One of the main global complaints against the hegemony of the US$ is that it allows our country to export inflation. Here is a primer on how that works.
Must read: China lectures about U.S. Hegemony & Its Perils. Maybe China would prefer if it had hegemony instead? Some classify this diatribe published in February 2023 as an informal declaration of war.
Trade imbalances with China & Russia tell an important story.