People in other countries usually have freedom to minimise their US dollar holdings, holding their wealth in pesos, rupees or lira instead and only obtaining do

People in other countries usually have freedom to minimise their US dollar holdings, holding their wealth in pesos, rupees or lira instead and only obtaining dollars for specific transactions. But they don't, because they'd lose a lot more wealth if they held it in pesos, rupees or lira than USD. In fact the story of the last decade has been one of significant increases in the purchasing power of wealth held in dollars compared even with currencies of reasonably stable Western developed economies.