How the U.S. Benefits From the Dollar’s Global Role.

As you’ve learned so far, rumors of the dollar’s death are way overblown!

The dollar’s global role benefits the United States in several ways.

First, it lowers borrowing costs, enabling the U.S. government to finance budget deficits more affordably.

Second, it increases the purchasing power of Americans by strengthening the dollar’s value, allowing them to buy more goods and services from other countries.

However, this advantage comes with a downside, as a stronger dollar makes American exports more expensive, potentially leading to job losses in export-related industries.

Lastly, the widespread use of the dollar in international trade grants the United States diplomatic leverage, enabling it to impose financial sanctions on adversaries.

The Future of the U.S. Dollar’s Dominance

The U.S. dollar has persisted as the world’s main reserve currency for the past 70 years, even though there have been a lot of big changes, such as the end of fixed exchange rates, trade and financial globalization, technological progress, and changes in geopolitics.

While the U.S. dollar’s global role is currently secure, the U.S. dollar’s dominance may not be permanent.

Factors such as uncontrolled inflation, a decline in the U.S. share of the global economy and trade, excessive debt, or overuse of financial sanctions could undermine the dollar’s desirability.

As the global economic landscape evolves, the dollar’s dominance may be tested, with potential implications for trade, finance, and geopolitics.

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