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Dr. Barry Eichengreen & Joseph Wang on Dollar Dominance, “Problematic” Levels of Government Debt, Modern Monetary Theory (MMT), and Central Bank Digital Currencies

Forward Guidance

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The Dominance of the US Dollar as a Global Reserve Currency

This chapter explores the reasons behind the US dollar's dominance as a global reserve currency, discussing its rise as a rival to the pound sterling and why other currencies like the renminbi and euro are not significant challengers. It emphasizes the importance of liquidity and the role of the US dollar in international financial markets.

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