I will make a bold prediction even though I am long Europe and short the US right now

American soft power will not erode by 2029 relative to pre Trump - and US companies and valuations will be higher.

The secret sauce is it being the shining city on the hill. None of the intrinsic factors that made it great - the entrepreneurial and risk taking culture, the AI prowess, the language, rule of law etc have eroded.

Europeans may sell some US investments to invest back in Europe but Asian savers will continue recycling in the US. Insurance companies, pensions all have auto invest into the US via insurance policies linked to the S&P… 

Asian powers like Australia, Japan, Korea, India will all expand their cooperation with the US.

Trumps tariffs will rejuvenate U.S. manufacturing and the pro-business environment will be a tailwind.

Bottom line- don’t bet against America. It doesn’t tend to work in the long run

Disclaimer - I am currently long European aerospace & defense stocks and the Euro