Description
Book SynopsisFor half a century, the United States has garnered substantial political and economic benefits as a result of the dollar''s de facto role as a global currency. In recent years, however, the dollar''s preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy.
What is the future of the U.S. dollar as an international currency? Will predictions of its demise end up just as inaccurate as those that have accompanied major international financial crises since the early 1970s? Analysts disagree, often profoundly, in their answers to these questions. In The Future of the Dollar, leading scholars
Trade Review
This book offers great value in presenting different approaches and views on the future of the dollar. And reading through a rather heterogeneous collection of contributions one cannot but agree with editors Helleiner and Kirshner that the field of dollar studies is so ridden with disagreements that it would be virtually impossible to conclude with a coherent, let alone common, view.
-- Paola Subacchi * International Affairs *
