We're the second-largest exporter in the world [1]. (But yes, more consumer.)
> And no, the biggest driver for the US Dollars demand nowadays it is status as the global currency of trade
Who do you think does most of the trading? If America weren't the world's largest importer and second-largest exporter, the dollar wouldn't be the global currency of trade.
You're correct that our financial system reinforces that relationship. But it's reinforcing, not underwriting. (China isn't challenging us in our financial services, it's challenging us on trade.)
We're the second-largest exporter in the world [1]. (But yes, more consumer.)
> And no, the biggest driver for the US Dollars demand nowadays it is status as the global currency of trade
Who do you think does most of the trading? If America weren't the world's largest importer and second-largest exporter, the dollar wouldn't be the global currency of trade.
You're correct that our financial system reinforces that relationship. But it's reinforcing, not underwriting. (China isn't challenging us in our financial services, it's challenging us on trade.)
[1] https://en.wikipedia.org/wiki/List_of_countries_by_exports