[phs318u]

You're thinking too narrowly. It's not just about mutual trade. It's the fact that US companies have firmly planted the flag almost everywhere on earth - a feat only possible through the Pax Americana. If you want to see what the world will look like for the USA when it can rely on no allies to support its military misadventures, when it can rely on no favourable treatment from allies for its corporations, when it sees its former allies forming deals with former enemies, and when the cost of losing the US dollar's primacy as the reserve currency for world trade hits your country in its ability to raise (and service) debt - just wait. That world is slowly coming.

[rayiner]

U.S. companies planted a flag all over the world for the same reason Chinese companies have done so. In 1930 the U.S. was the manufacturing giant that China is today.

I suspect the military misadventures will have to end, but that’s a good thing. In terms of reserve currency and trade deals or whatnot—I’m not persuaded it matters for economic growth.

Can you point out on this chart of U.S. GDP per capita at which point we began enjoying the economic benefits of being the reserve currency? https://www.aei.org/wp-content/uploads/2016/09/peth_09-72016....

[phs318u]

GDP per capita is irrelevant to the benefits of being the world's reserve currency. You could search for it yourself but I'll do you a favour. Having the US$ be the world's reserve currency means the US government can borrow far more and on more favourable terms than other countries. It's why your country seems immune to the consequences of an ever-spiralling debt burden.

In addition, having the world's trade be denominated in US$ makes it incredibly easy for the US government to apply economic pressure to bear on other countries.

This is a privilege that few other countries share in any meaningful way.