4 ms·
As long as you can get away with it, the position of the US is actually more desirable. Essentially they are using their hegemonic position to levy a global tax
by orbifold 12y ago
As long as you can get away with it, the position of the US is actually more desirable. Essentially they are using their hegemonic position to levy a global tax. Their debt obligations are in the currency of international trade, so they can afford to essentially have a deficit indefinitely, without much consequences.