The Power of Currencies and Currencies of Power

1. Auflage 2017
ISBN: 978-1-138-45263-3
Verlag: Taylor & Francis

Buch, Englisch, 156 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 399 g

Reihe: Adelphi series

Today, a Great Power‘s arsenal extends well beyond the military, embracing soft power and also currency power. The dollar dominates the global economy, used in settling trade and investment deals but also held in reserve in vast quantities by central banks in case of a payments crisis. This demand for dollars keeps US borrowing costs lower than they otherwise would be, reinforcing the country‘s economic power and helping to pay for the worlds strongest armed forces. This Adelphi sets out how the US has regularly deployed the power of the dollar to put pressure on foes such as Iran, as well as allies including the United Kingdom and Germany. Contributors, including Robert Zoellick, the former head of the World Bank, and John Williamson, a leading expert on currencies, assess how long the US will be able to maintain thisexorbitant privilege in tandem with a rising China. Beijing, sensing that the global crisis might herald the end of the dollar‘s supremacy, is eager to gain monetary power by carving out an international role for its own currency, the renminbi. The book examines the obstacles China must first overcome in its quest and the strategic consequences if it succeeds.

Autoren/Hrsg.

Wheatley, Alan

Fachgebiete

• Sozialwissenschaften Politikwissenschaft Militärwesen Nationale und Internationale Sicherheits- und Verteidigungspolitik
• Geisteswissenschaften Geschichtswissenschaft Geschichtliche Themen Militärgeschichte

Inhaltsverzeichnis

Acknowledgements, Glossary, Introduction, Chapter One The origins and use of currency power, Chapter Two The pretenders to the dollar’s crown, Chapter Three The dollar and US power, Chapter Four Financial blockades: reserve currencies as instruments of coercion, Chapter Five Global trade and global currencies, Chapter Six The renminbi’s rise and Chinese politics, Chapter Seven The new shape of Asia, Chapter Eight The international monetary system: past, present …and a possible future?, Conclusion

Über Autor(innen)

Alan Wheatley