Why are the values of world currencies always compared to the US Dollar?
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The US dollar is the global reserve currencies. Something on the order of 70-80% of transactions that cross national borders involve dollars (with the overwhelming majority of the remainder being Euros within the Eurozone, which is arguably not a “true” national border from an economic perspective).
The dollar enjoys this supremacy entirely because of the absolutely obscene size of the US economy, and there point-blank is no country or region that can offer an alternative; they’re all either deeply flawed (e.g. China, Europe), or they’re too small to liquidate the entire economy (e.g. Britain, Canada, Australia), or both (Japan). There is also not going to be an alternative for the better part of the century.
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