Where the money come from?, page-128

Where do you think China got its $3 Trillion from. This was certainly soaked up by the slack in the US economy.

Due to the USD being the defacto global currency, most other trading countries hold loads of Greenbacks; possibley
$6-$7 Trillion floating around the Globe outside the USA.

My contention is:

If the US economy wobbles thereby impacting negatively on the USD, there could be a rush to dump the USD.

I have read MMT and I regard it as a theory which is just as good until the data says otherwise.
I realise some regard it as "Gospel Truth" but we live in a world where human behaviour ( the basis of
economics) can change rapidly as evidenced by the recent CV-19 debacle.

The US is in a precarious position at present because over the past 12 months its exports to China have dropped as have
its imports from China. Trump Traiffs on Aluminium & Steel imports have not yet been compensated for domestically.
The Japanese & European car manufacturers located in the US still import rolled steel and other supplies; the only difference is that it is taxed
which the consumer ultiately pays.

We can beg to differ on some aspects MMT until this impending recession pans out.How long will the world simply maintain trust in currencies that are being trashed by big spending Governments.?
Something has to give; otherwise the plebs will say: " why should I work and pay taxes when Governments simply print money and dish it out to the banks inlieu of Government debt with impunity?..Why not to me too?