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That sound you heard at last Wednesday's joint news conference between the presidents of the European Commission and the United States was Donald Trump backtracking once again.Think about Trump's actions with regard to North Korea.Trump is creating a reputation for the United States as erratic, unpredictable, unreliable and fundamentally hostile to the global order.Economist Adam Posen argues that countries are now bypassing the United States and constructing a "post-American world economy".The most dramatic indication of the world sidestepping the United States, Posen says, is the decline in foreign investment.On average, net foreign investment into the U.S. has dropped by half since 2016 .For decades, that reality has been countered by another reality – that among the world's rich nations, America was unique in having good growth prospects coupled with stable, predictable, pro-market policies.The difference is, America's strongman has the power to disrupt the entire global economy.
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