>The economy is a closed system
This is sort of not true. The biggest example of why is the concept of the velocity of money. If you’re unfamiliar with this concept, it’s the idea of of how many times a single dollar is used in a given time period. It’s a very important measure, and it’s historic low at the start of the lock downs was why the fed dumping so much money into the economy was not a mistake (at the time). It’s an effective multiplier, and has very real impact as to the total utils that everyone in the spending chain collect.
What this means, is that when money is spent outside a country, there is a very real risk that that the local velocity of money goes down, even though the gdp of the global economy is going up.