I mean... I don't like stablecoins, but........ if the US is able to finance its perpetual deficits via stablecoin issuance, that suggests there's still a huge demand for dollars out there in the world.

Instead of complaining about stablecoins, maybe countries should ask why their people prefer the dollar over their own currencies. It's like their currencies are such a steaming pile of crap that they'd rather have this other, slightly less steaming, pile of crap