The US dollar is dominant in global trade and financial transactions. But in the long run, its dominance is likely to fade as the US' share of global GDP shrinks, resulting in the inability to expand the supply of safe dollar assets without exhausting fiscal capacity.
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The US dollar is dominant in global trade and financial transactions. But in the long run, its dominance is likely to fade as the US' share of global GDP shrinks, resulting in the inability to expand the supply of safe dollar assets without exhausting fiscal capacity.