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Source: Zhou Ziheng
Donald Trump’s presidency has sparked the largest trade war in history, prompting more and more Americans to consider leaving the country.A new survey shows that rising cost of living, dissatisfaction with political leadership and the fading of the “American Dream” are the main drivers of this trend.This article is adapted from an in-depth conversation with Nomad Capitalist founder Andrew Henderson, which explores why Americans seek overseas opportunities, the consequences of Trump’s policies, and strategies to deal with uncertainty.
Cost of Living Crisis
A national survey shows that 68% of Americans feel that they are only “surviving” rather than “prospering.”The surge in the cost of basic expenses such as rent, health care and education has made many people think that buying a home is out of reach.This economic pressure erodes people’s belief in the “American Dream” and prompts them to find overseas destinations with lower cost of living.
Political disillusionment
Dissatisfaction with his leadership has risen by 6% since Trump’s victory in November, and many use it as a reason to leave.His trade war aimed at revitalizing U.S. manufacturing is believed to be isolating the United States globally.Henderson believes that Trump’s policy exposes deeper problems: the “bullying” strategy used in American history is no longer effective in today’s fiercely competitive world, and China, Russia and Gulf countries have provided alternatives to cooperation.
The decline in US global influence
Henderson pointed out that the US’s competitive advantage is weakening.The dollar’s share as the world’s reserve currency has dropped by 20% since 2000, and U.S. passports may become “toxic” because of reduced global trust.High tariffs (a 4-fold increase since 2000) and protectionist policies have prompted other countries to establish alliances without the participation of the United States, which may lead to job loss and reduced foreign investment.
Pursuing a better life overseas
Americans are attracted by the low cost and high quality of life in emerging markets.Countries such as Malaysia provide low tax rates, modern infrastructure and a friendly environment.For example, Dubai’s residence permit approval takes only a few hours, while the waiting time for a U.S. green card can last decades.After Henderson gave up U.S. citizenship, he emphasized that these “global southern” countries provided a viable alternative to the high-cost, high-tax United States.
The impact of the trade war
Trump’s trade war is reshaping global markets.Henderson pointed out that countries retaliate by reducing their dependence on the United States, and Western allies such as Germany have begun to question U.S. investment.Emerging markets such as Indonesia and Thailand face challenges in the near term, but offer investment opportunities due to their resilience and low correlation with U.S. volatility.
Opportunities in emerging markets
Henderson points out several “hidden treasures” of investment and life:
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Malaysia: Low tax rates, affordable cost of living and high-quality infrastructure.
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Georgia: Fast residence permit approval and banking provides a 12% return.
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Indonesia and Thailand: Low-price opportunities for real estate and stock markets after the trade war.
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Cambodia and Uzbekistan: A border market with low correlation with the United States, suitable for long-term growth.
China’s technology, especially electric cars such as BYD, is surpassing Western competitors and marking a transfer of innovation.Henderson’s reference to Warren Buffett’s shift to non-U.S. investment confirms this change.
Guarantee wealth and liquidity
For those who stay in the United States, Henderson recommends:
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Asset Diversification: Open a bank account in Georgia, Singapore and other places, and invest in stocks in Hong Kong or Europe.
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Second passport: Obtain citizenship through ancestry (such as Italy, Ireland) or investment.
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Overseas real estate: Provides return on investment and residence options.
For those who are considering leaving, he advocates “going to where you are treated well”, which is a summary of his experience of breaking away from the high tax and anti-wealth culture of the United States and heading to a tax-friendly and culturally open country.
The decline of the American Dream
The survey shows that 68% of people feel that their lives are stagnant and buying a house is out of reach, indicating that the American Dream is disappearing.Henderson believes that even the wealthy (1%) who earn about $1 million a year is at risk because populist policies may target them to fund Trump’s agenda and further motivate immigrants.
Henderson’s Story
Henderson left because he felt disconnected from high tax, anti-wealth culture as an entrepreneur in the United States.Inspired by his father’s advice to “go where you are treated kindly”, he embarked on a global trip and eventually gave up his U.S. citizenship.In places like Malaysia, he has discovered lower costs, friendlier communities and better governance, strengthening his belief in global mobility.
Global citizenship
Henderson predicts that future identity will be defined by personal values rather than nationality.Younger generations like Gen Z are increasingly willing to accept global choices and reject the notion that the United States is the only path to success.
The United States is at a critical moment under Trump’s trade war and isolationist policies.Economic pressure, political dissatisfaction and global competition have prompted Americans to rethink the future.Whether staying or leaving, diversifying assets and embracing global opportunities are key to thriving in this changing world.
