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Top Dollar: Why the Dominance of America's nuurrency Is Harder Than Ever to Overturn.

Authors :
PRASAD, ESWAR
Source :
Foreign Affairs. Jul/Aug2024, Vol. 103 Issue 4, p103-113. 10p.
Publication Year :
2024

Abstract

This article explores the continued dominance of the U.S. dollar in the global economy and the difficulties in challenging its position. While the U.S. dollar is both admired and criticized for its power, it remains the preferred currency for international trade, invoicing, and reserve holdings. Despite efforts by other countries to promote their own currencies, the lack of a viable alternative and the strength of the U.S. economy and financial markets have solidified the dollar's position. The article also dismisses the notion of alternative currencies like gold or cryptocurrencies replacing the dollar, and suggests that as long as the U.S. maintains economic stability and financial discipline, the dollar's dominance is likely to persist. [Extracted from the article]

Details

Language :
English
ISSN :
00157120
Volume :
103
Issue :
4
Database :
Academic Search Index
Journal :
Foreign Affairs
Publication Type :
Periodical
Accession number :
177979493