This question is primarily aimed at the office of the US president but other countries should be considered. Biden has severely damaged the dollar. 1. The world's reserve currency has long benefitted the U.S. A trigger for the war in Iraq was Saddam selling oil in Euros. At the time the Euro appeared to be a strong currency while the dollar had then (and now) a history of inflation, so it seemed to be a good contender for the role of the world reserve currency. Eight years later Libya was offering a currency for circulation in Africa. That was also stopped. But Joe Biden decided Russia and China could not trade in dollars, so they had to set up their own trading system and now it is open to other countries to use.