Nor is it good for the economy (see: Korea, Vietnam, Iraq, Afganistan, Iraq...).

that depends on which metrics you care about.

for instance, this chart, of USD as global foreign reserve %

You can clearly see the demand induce correlated with vietnam, gulf war, 9/11 invasion

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iun0_jAGaJM...