Paul Blustein on the Rise, Dominance, and Current Challenges to King Dollar
Macro Musings with David Beckworth
Challenges to Dollar Dominance
This chapter explores the complexities of the global dollar system and the persistent dominance of the U.S. dollar amidst attempts by emerging markets to reduce their reliance on it. It analyzes the shortcomings of alternative currencies like the euro and the Chinese yuan, while also dispelling the notion that cryptocurrencies could replace the dollar as a global reserve currency.
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