> Why would you not if you don't incur in external debt doing so? Don't you, though? If you're in a trade deficit with another country that means they end up h

> Why would you not if you don't incur in external debt doing so? Don't you, though? If you're in a trade deficit with another country that means they end up holding a bunch of your currency. That's basically a debt, right? They have the ability to get goods from you whenever they want, without having to give you any in return (just giving the currency back).