[swombat]

Of course it does - the strength of the US economy.

The US economy may be fucked up in many ways, and may face some harsh transitions if it can no longer rely on the strength of the dollar as an international currency, but it is still a large economy. The loss of that strength will not magically result in the dollar having "no backing".

Certainly, if the dollar was replaced by the RMB internationally, the dollar would start to drop against other currencies - until it reached a realistic equilibrium point.