Why Americans want to leave the United States: Economics, politics and global change

Source: Zhou Ziheng

Donald Trump's presidency has triggered the largest trade war in history, prompting more and more Americans to consider leaving the country. A new survey shows that rising costs 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, exploring why Americans are seeking opportunities abroad, the consequences of Trump's policies, and strategies for dealing with uncertainty.

Cost of Living Crisis

A national survey shows that 68% of Americans feel they are only "surviving" rather than "thriving." The skyrocketing costs of basic expenses such as rent, health care and education have made many people believe that buying a home is out of reach. Such economic pressures have eroded people's faith in the "American Dream" and prompted them to seek overseas destinations with lower costs of living.

Political disillusionment

Since Trump's victory in November, dissatisfaction with his leadership has risen by 6%, and many people have cited it as a reason to leave. His trade war aimed at revitalizing the US manufacturing industry is seen as isolating the United States globally. Henderson believes that Trump's policies expose deeper problems: the "bullying" strategy that the United States has historically used is no longer effective in today's highly competitive world, and China, Russia and the Gulf countries offer cooperative alternatives.

The decline of the United States' global influence

Henderson pointed out that the United States' competitive advantage is weakening. The dollar’s ​​share as the world’s reserve currency has fallen 20% since 2000, and the U.S. passport could become “toxic” as global trust erodes. High tariffs (up 4x since 2000) and protectionist policies are prompting other countries to build alliances without the U.S., potentially leading to job losses and reduced foreign investment.

Seeking a better life abroad

Americans are attracted to the low costs and high quality of life in emerging markets. Countries like Malaysia offer low taxes, modern infrastructure, and a friendly environment. For example, residency permits in Dubai are approved in just hours, while wait times for U.S. green cards can be decades. After renouncing his U.S. citizenship, Henderson emphasized that these “global south” countries offer viable alternatives to the high-cost, high-tax United States.

Impact of the Trade War

Trump's trade war is reshaping global markets. Henderson noted that countries retaliated by reducing their dependence on the United States, and Western allies such as Germany began to question US investment. Emerging markets such as Indonesia and Thailand face challenges in the short term, but offer investment opportunities due to their resilience and low correlation with US fluctuations.

Opportunities in Emerging Markets

Henderson points to several “hidden gems” for investment and living:

• Malaysia: Low taxes, affordable cost of living and high-quality infrastructure.

• Georgia: Fast residency permit approval and banks offering 12% returns.

• Indonesia and Thailand: Bargain opportunities in real estate and stocks after the trade war.

• Cambodia and Uzbekistan: Frontier markets with low correlation to the U.S., suitable for long-term growth.

Chinese technology, especially electric vehicles such as BYD, is surpassing Western competitors, signaling a shift in innovation. Henderson pointed to Warren Buffett's shift toward non-U.S. investments as evidence of this change.

Protect Wealth and Liquidity

For those who remain in the United States, Henderson recommends:

• Asset Diversification: Open bank accounts in Georgia, Singapore, etc., and invest in stocks in Hong Kong or Europe.

• Second Passport: Obtain citizenship by descent (such as Italy, Ireland) or investment.

• Overseas Real Estate: Providing investment returns and residency options.

For those considering leaving, he advocates “going where you are treated well,” a summary of his experience in breaking away from the high-tax, anti-wealth culture of the United States and heading to tax-friendly, culturally open countries.

The Decline of the American Dream

Surveys show that 68% of people feel that their lives are stagnant and that buying a house is out of reach, indicating that the American Dream is fading. Even the wealthy (the 1%), who make about $1 million a year, are at risk, Henderson argues, as populist policies could target them to fund Trump’s agenda, further incentivizing immigration.

Henderson’s Story

Henderson left the United States because he felt disconnected from the high-tax, anti-wealth culture as an entrepreneur. Inspired by his father’s advice to “go where you’re treated well,” he began traveling the world and eventually renounced his U.S. citizenship. In places like Malaysia, he found lower costs, friendlier communities and better governance, solidifying his belief in global mobility.

Global Citizen

In the future, Henderson predicts, identities will be defined by personal values ​​rather than nationality. Younger generations, like Generation Z, are increasingly open to global options and reject the notion that the United States is the only path to success.

Amid Trump’s trade wars and isolationist policies, the United States is at a critical juncture. Economic pressures, political discontent, and global competition are pushing Americans to rethink their future. Whether to stay or leave, diversifying assets and embracing global opportunities are key to thriving in this changing world.