US fiscal policy undermining neighbors

Macroeconomics isn't my specialty. I get the feeling that two different schools of macroeconomic thought are being discussed in this video. I'm unable to fully ascertain the accuracy of the statements made, but I think the premise is quite plausible: the US is essentially causing worldwide inflation, particularly in countries whose economies are closely linked and/or use the dollar or peg their currencies closely to the dollar. This has foreign policy implications.