Vance is absolutely right that the dollars strength and our reserve status has contributed to deindustrialization and the hollowing out of middle America, which he famously represents politically - that’s his entire political story and heritage.

The dollar reserve means the US produces a lot of dollar assets services and finance for export, which mainly benefits coastal elites. From Vance’s perspective, of course righting the ship a bit might be worthwhile.

Now do the inarguable benefits of the dollar reserve on net benefit the average American? Probably yes. But that benefit is distributed highly unevenly. And some of the strategic and economic benefits of being the reserve issuer seem to be declining at the margin; both in terms of financing and power projection.

Vance is completely within his rights to wonder out loud about the merits of being the reserve issuer.