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The fall of the Petrodollar would not hurt the US that much. It would hurt the baby boomers and that is the reason the Government is fanatical about maintaining the petrodollar. The petrodollar is the key medium that allows the boomers to splurge on luxury spending as well as to fund their delusionary expectations of a retirement in luxury.replacing petrodollar isn't hard, all you need is getting a few major exporters onboard to ditch it. Ending the dollar dominance however will take a few extra steps but there is already a roadmap, at its end, a common currency for the Global South.
Too many vulnerable and small economies fell victim to US FED's radical monetary policies last year and still suffering in deep crisis or waiting for IMF handout, it's high time for the international community to hit the Ffwd button on ditching US dollar
If the petrodollar falls it would free the younger generations from tyranny. Americans under 60 would finally be able the coup and overthrow the boomers. The corporations would be forced to reshore or go bankrupt. The Debt load is merely a secondary concern however as millennials would likely just default on all debts; make a deal with China regarding taiwan and the pacific west of Guam, in return for china accepting the default. US would remilitarize and reindustrialize by reviving the armaments trade with Europe and Asia outside of China and Russia as they would have to pay for US heavy weapons or settle for being under Chinese control. The US would be heavily supplying the arms trade as it would be governed by millennials who don't share the Boomers obsession with Arms Control.
Most likely those countries would decide to accept the US weapons as they desire being independent while also joining the chinese economic partnership that whatever Belt and Road evolves into.