In principle, OPEC and Europe are in a position of strength against the United States, but this is not the case in practice. Why?

The two regions that currently contribute the most to the financing of the US external debt are OPEC and Europe, and no longer China since 2014. The highly expansionary economic policy implemented in the United States will lead to an increase in the US external deficit and debt. This should put the United States in a position of weakness against the countries that finance it (OPEC and Europe), but this is clearly not the case. Why? Probably because: OPEC and Europe have a structural savings surplus that they are unable to correct; There is currently no currency other than the dollar that the surpluses of OPEC and Europe could be invested in.