The relatively "bigger picture" would be countries that carry and trade US debt in the form of Treasury bonds (which does not equate to cash reserves) and other debt-related instruments.
If you need examples of how this plays out in the grand narrative(s) of finances, look at the top holders by country of US debt, the memes/arguments of the Fed's "money printer goes brrrrr", as well as possible geopolitical risks.
If you need examples of how this plays out in the grand narrative(s) of finances, look at the top holders by country of US debt, the memes/arguments of the Fed's "money printer goes brrrrr", as well as possible geopolitical risks.