Quick persual of the abstract and conclusion, I think this confuses cause and effect. The global monetary order emerged after WW2 when the US was effectively the only military and economic power left because Europe was bombed out.

Matt Pines from BTCPolicy actually made a post last night that has a line summarizing this well:

I really liked his post because it mentions swap lines which I actually brought up here the other day in the context of off-shore dollar demand: https://x.com/matthew_pines/status/1904325383677227365

Post WW2/Bretton Woods is otherwise known as "Guns for Butter", the dollar is used because its the US that enables trade at all... via the navy making transport of goods possible.

Where the US is facing the reality that we can't cover the expense of being world police, countries either need more dollars to stay in the club or risk their ability to trade. It may seem intuitive that as we step back from being world police our monetary zone contracts accordingly, but it seems less like its contracting and more that the membership fees are going up.