"Econ 102" with Noah Smith and Erik Torenberg cover image

International Development, The Reserve Currency, and Xi Jinping’s Legacy

"Econ 102" with Noah Smith and Erik Torenberg

CHAPTER

Currency Dynamics and Geopolitical Shifts

This chapter examines the intricacies of fixed and floating exchange rate systems, analyzing how different countries navigate inflation and the pressures of maintaining currency pegs. It highlights the motivations behind moving away from the U.S. dollar as a reserve currency, focusing on geopolitical factors over inflation concerns, especially in the context of countries like Vietnam and China. The discussion further compares economic recovery strategies, including bank bailouts and stimulus measures, underscoring the lessons learned from historical crises.

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