Michael Dooley on the International Monetary System and Future of Global Dollar Dominance
Macro Musings with David Beckworth
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What Do You Think About China's Dropout?
The stock of collateral is actually much larger than we conjectured. Allies have been to us, again, is surprisingly aggressive. That also makes the collateral more effective in some sense. The key is whether china goes along with russia and chooses to drop out of the system. Idit it very unlikely, but if they did, that would create a new international financial system.
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