In this episode of Please Help Me Understand, Bhuvan and Debashish explore the far-reaching consequences of the United States suddenly imposing tariffs as high as 145% on China. They connect these dramatic moves to a larger global shift—where the U.S. may be stepping back from its role as the world’s primary financier and reserve-currency provider—and explain how that could lead to a multipolar system of rival powers and currencies. Drawing on both historical parallels (like the 2008 crash and earlier market meltdowns) and modern concerns (like onshoring and “national capitalism”), they argue that trade wars now go far beyond mere headlines; they’re reshaping supply chains, government spending priorities, and long-held assumptions about how money flows globally. India’s position in this increasingly fragmented world order is also examined, with an eye on whether it can become a manufacturing alternative to China. Throughout the conversation, they highlight the implications for everyday investors, advising vigilance as politics and economics intersect to create more volatility—and possibly, a major reset of the financial system as we know it.