When news broke last week that America’s national debt had surged to a record high of $US40 trillion, it was notable enough. If the US economy shakes, the rest of the globe feels it.

And then came the kicker: Donald Trump suggested he could use the military to stage an “intervention” on bond markets.

Today, international and political editor Peter Hartcher discusses the declining global confidence in the American dollar and the US Treasury – and what Trump will have to do to avoid a global financial crisis.

Background reading:

• How is Trump weakening American power? Let me count the ways

The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris, from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.

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