US EditionDe-Dollarization: What Would Happen if the Dollar Lost Reserve Currency Status?
4 Articles
4 Articles
A few days ago, in the legendary city of Aix-en-Provence, I spoke at the twenty-fifth annual conference of Le Cercle des Économistes (The Circle of Economists). Its president, Jean-Hervé Lorenzi, invited me to present my ideas on the future of the dollar as an international reserve currency. These are my conclusions after my intervention with the leading economists and public policy makers of the European Union.The world is going through a stage…
Are we heading for the end of the dollar?
By Jim Aristopoulos, social anthropologist and historian The US dollar has just experienced its worst first half of the year since 1973, when Richard Nixon abandoned the Bretton Woods gold standard. The ICE U.S. Dollar Index fell by 10.7%, with the currency hitting a 2.5-year low and showing vulnerability to a range of factors that
FINANCES.— The global role of the dollar is an ambiguous blessing. Its status as a safe haven and a dominant reserve currency reduces the cost of indebtedness for the United States—the so-called “exorbitant privilege,” which implies more investment, more growth and higher revenues in aggregate terms. But at the same time, the strength of the dollar undermines the country’s competitiveness in international trade, putting certain producers at a di…
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