This is the first big downturn I've been prepared to invest in, so personally I'm going to buy more than usual. I see it as stocks being on sale.
Japan is the common counterexample. It is entirely possible the stock market will stagnate in the future as the era of American economic hegemony comes to an end.
https://www.statista.com/statistics/188165/annual-gdp-growth...
At any rate, GDP growth is currently negative for 2022 and China's economy is still projected to overtake the U.S. in a matter of years.
That only provides a counter example to investing all your money into a single country. Unless you think every stock market in the world is going to do poorly, that's a reason to buy a globally diversified index fund (like VT), so even if American economic hegemony ends, you can pick up on growth of other countries.
Why does it have to be a western country?
> I don't wanna invest in China as that could be throwing money into a black hole.
There are countries other than just Western countries and China: namely, African countries and SEA countries.