And while I don't subscribe to the idea of US exceptionalism, in this particular case the US really is exceptional. Historically, international debts were cause for invasion or colonization, and that seems to be repeating with China.
US is exceptional, but only due to its strength which is the result of it spinning up its economy during WWII and suffering none of the devastation that all of the old powers suffered. US is clipping coupons ever since, still operating on semi-wartime economy that needs an enemy to justify its existence. But after those few decades, cracks started showing. Worst tragedy is that US thinks it's exceptional and successful because of how it does all the things and is afraid to change anything about it. Even in areas where clearly superior solutions exist and were already adopted by virtual entirety of the civilized world.
