, Columnist
Dollar Dominance Is the Key to US Debt and Deficits
The greenback has seen off plenty of challengers — for good reason. Trump would do well to recognize its huge strategic value.
Much more than a mere currency.
Photographer: Paul Yeung/BloombergThis is part of a series of Bloomberg Opinion columns exploring the risks related to the US’s rapidly expanding debt and budget deficit. Other contributions can be read here, here and here.
The eclipse of the dollar, and with it the ability of the US to borrow on a scale that would cripple any other country, has been long predicted. For at least half a century, skeptics have counted on something — or someone — coming along to knock American assets from their perch. Don't plan for a requiem just yet.