Criticism of the United States seems to have become a commonplace on social media and in news comment sections today.
The US faces numerous challenges, including high debt, racial tensions, widespread gun ownership, and partisan divisions, all of which seem to portend the impending decline of the American empire. Ironically, however, whenever the world faces a crisis, escalating conflict, or technological transitions, people inevitably turn their attention to developments in Washington. Regardless of personal preferences, the United States remains the world's only unrivaled superpower, a fact that cannot be ignored.
The Global Influence of the US Dollar
The US dollar serves as the settlement currency for over 90% of international trade, demonstrating its unique global credibility and widespread liquidity. Unlike other countries, which must maintain foreign exchange reserves to mitigate risk, the US enjoys the privilege of simply printing dollars to attract global demand. The US dollar is the pricing currency in oil, gold, and other commodities transactions. Furthermore, the US holds significant influence in international financial institutions such as the IMF and the World Bank. Despite its massive debt pile, US debt remains considered the safest asset. While some criticize the US's excessive money printing as "financial hegemony," the more realistic reality is that, despite being aware of the US's exploitative policies, other countries are still compelled to flock to it. Currently, currencies like the RMB, the Euro, and the Japanese Yen are still preparing for "de-dollarization," but the so-called "post-dollar era" seems a distant prospect.
The Core of US Foreign Policy
- Ideologically-Based Foreign Policy: US foreign policy is deeply influenced by domestic ideologies, which emphasize values such as freedom, democracy, and human rights. This ideologically-based foreign policy often positions the US as a moral leader in international affairs, committed to promoting and defending these values.
- Promoting Global Economic Integration: Whether called empire, globalization, or world order, promoting global economic integration has always been a core component of US foreign policy. The US uses diplomatic means to promote the liberalization of international trade, investment, and finance, thereby strengthening its position and influence in the global economy.
The Impact of US Foreign Policy on the World
- Promoting the Stability of the International Order: As one of the world's most powerful countries, the US's foreign policy has a significant impact on the stability of the international order. By upholding international law and international norms, the United States strives to ensure that all countries abide by the rules in international affairs, thereby maintaining the stability of the international order.
- Promoting the reform of the global governance system: With the deepening of globalization, the global governance system faces numerous challenges. The United States, through its foreign policy, promotes the reform and improvement of the global governance system to adapt to the new international situation and challenges. For example, the United States actively participates in the reform of international organizations such as the United Nations, promoting a more just, reasonable, and effective global governance system.
- Influencing the foreign policies of other countries: U.S. foreign policy has a significant impact on the foreign policies of other countries. Many countries consider the U.S. position and attitude when formulating their foreign policies to ensure cooperation and coordination with the United States. This influence is reflected not only in the political sphere but also in many other areas, such as the economy and culture.