Dollar hegemony

There is something called "dollar hegemony." It means that the American dollar is very important all around the world. Lots of countries use American dollars instead of their own money to buy and sell things with each other.

This happened because a long time ago, after World War II, the United States became very powerful and was able to make a lot of trade deals with other countries. This made them want to use American dollars more and more.

So now, lots of people think that the American dollar is very important because it's used so much for buying and selling things all over the world. Some countries even keep a lot of American dollars in their banks in case they need it later.

Some people think that having so much control over the world's money might not be fair, but that's a big debate that grown-ups talk about.