One of the most important lessons I learned, growing up, is that the
world economy is *entirely* different from that of any particular
country, even one as big as the United States.
A great example, in microcosm, is the luxury yacht business. For a long
time there were some wonderful ship yards in the US, building these
high-end boats for wealthy people. Many of them were in New York, but
because of this "tax the wealthy" mentality these days, government
greed decided to impose taxes on yachts.
The theory, exuding from the minds of these political morons like
leaking sludge from a sewage pipe, was that rich people have no
thoughts in their minds other than spending and stealing money. Like
any bureaucratic agency, the belief is that human nature means
nothing---money is all that matters.
So they raised the taxes on luxury yachts. They assumed rich people
would be "forced" to buy their yachts from existing ship yards, and the
increased tax would fill the coffers of the government agencies.
Instead, what happened was that rich people simply bought their yachts
in some other country. The US boat manufacturers for these types of
boats, mostly went out of business. The government not only didn`t get
any increased revenues, they lost the existing tax revenues.
Nobody cared, excepting the people who had to fold their yacht-building businesses.
It`s precisely because the Internet and e-commerce are global that a
collapse in the US economy would likely be less hurtful to small
business owners. Keep in mind that the "pool of money" in the entire
world is massively larger than the US portion of all that money. As
such, if American consumers cut back on spending, it would have been a
problem back in the days of brick-and-mortar walk-in traffic. Today,
not so much.