TLDR; The dollar is the global currency of record, the US became the richest country in the world, and Stalin didn't get Europe and Japan. The massive export market and global security was the payoff.
The trade deficit and debt is in USD it's a line in the ledger that is somewhat fine and sustainable as long as the world stays on the USD as the currency of record. Countries for now are happy to keep storing their reserves in US bonds - Canada holds 600-700 billion in US debt. Japan over a trillion.
The trade deficit and debt is in USD it's a line in the ledger that is somewhat fine and sustainable as long as the world stays on the USD as the currency of record. Countries for now are happy to keep storing their reserves in US bonds - Canada holds 600-700 billion in US debt. Japan over a trillion.