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Books > Business & Economics > Finance & accounting
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The Power of Currencies and Currencies of Power (Paperback)
Loot Price: R553
Discovery Miles 5 530
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The Power of Currencies and Currencies of Power (Paperback)
Series: Adelphi series
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Loot Price R553
Discovery Miles 5 530
Expected to ship within 10 - 15 working days
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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 world's 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 this 'exorbitant 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.
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