You know the saying that if you owe the bank one hundred thousand dollars you are in trouble, but if you owe the bank one hundred million dollars, the bank is in trouble. Currently US owes foreigners over two trillion dollars. In addition many trillions of dollars are also held in foreign central banks. These countries are in trouble and they will try hard to stabilise the US economy, if only for saving their own money
China takes the lead in imposing travel restrictions, locking down the city of Wuhan while the rest of the world acts as a voyeur. Could this be catastrophic?