I think it comes from the pattern of people seeking it out. A relevant example is Argentina's issuance of bonds in the past and subsequent travails. They didn'

I think it comes from the pattern of people seeking it out. A relevant example is Argentina's issuance of bonds in the past and subsequent travails. They didn't have to make themselves subject to US courts in the way they did. For some reason, despite all the disadvantages (potential and actual in hindsight) of borrowing in US dollars and being subject to New York law, they did it anyway.