[jjoonathan]

The Triffin Dilemma plays a big role here. Debt substitutes exports in the balance of trade; running the reserve currency pumps assets and dump exports. If you want to export from the US, you have to compete with a literal money printer for access to talent and resources.

https://en.wikipedia.org/wiki/Triffin_dilemma

This is going to be hella difficult to unwind, especially given the current state of macro awareness in the US: if I had a penny for every time someone in an export industry panicked over the possibility of a declining dollar, even though this would be in their best interest, I'd have too many to carry. Arguably worse, we have an otherwise respectable top 10 list that doesn't include macro anywhere, which is like teleporting onto the Titanic only to hear that the conversation is all about how to best duct-tape the doors. Sigh.