Rockefeller International's Ruchir Sharma explains why 'sell America' narrative is a myth

Group 1 - China is advising its banks to limit exposure to US treasuries, indicating a potential decline in the appeal of US assets globally [1][2] - Despite concerns about US policies, foreign investors are still significantly investing in American assets, with portfolio investments reaching a record high of nearly $1.6 trillion in 2025 [3][4] - The narrative of "sell America" is deemed a myth, as foreign investors have consistently bought US stocks and corporate bonds, with notable activity occurring even during off-hours in various global markets [4][5] Group 2 - The US dollar has experienced a decline of almost 2% at the start of the year and over 9% in the previous year, which is more pronounced than typical currency fluctuations [5] - The US market underperformed relative to other global markets despite strong inflows, with a current account deficit of approximately $1.3 trillion, raising concerns about reliance on "hot money" for financing [6][7] - The trend of American exceptionalism in investment is shifting, with foreign interest in the US remaining high, but other global markets are performing better, narrowing the relative performance gap [8]