Consequences of excessive money printing and disunity in world politics. The American economy thrives on blatant wars and resource plunder. Pedro dollar is one of the forms of robbery. All countries that want to buy oil must use dollars. That is the absurdity that the world must accept. That inflationary export helps the Fed issue more currency and is richer than any other institution.
Russia, China, India, some Middle Eastern and Asian countries have agreed to use a currency system other than the dollar to eliminate dependence. This creates a new pole in the world economy.

And another thing is that the opening of China after COVID makes the source of goods more abundant and makes the world economy more comfortable.
The collapse of the US economy was mainly caused by excessive interest rate hikes. The American people are mainly in debt, so the banking system is at risk of illiquidity. People's assets are being squeezed. Businesses also easily fall into bankruptcy.