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Currency Power - Understanding Monetary Rivalry (Paperback)
Loot Price: R536
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Currency Power - Understanding Monetary Rivalry (Paperback)
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List price R651
Loot Price R536
Discovery Miles 5 360
You Save R115 (18%)
Expected to ship within 12 - 17 working days
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Donate to Against Period Poverty
Total price: R556
Discovery Miles: 5 560
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Why the dollar will remain the world's most powerful currency
Monetary rivalry is a fact of life in the world economy. Intense
competition between international currencies like the US dollar,
Europe's euro, and the Chinese yuan is profoundly political, going
to the heart of the global balance of power. But what exactly is
the relationship between currency and power, and what does it
portend for the geopolitical standing of the United States, Europe,
and China? Popular opinion holds that the days of the dollar, long
the world's dominant currency, are numbered. By contrast, Currency
Power argues that the current monetary rivalry still greatly favors
America's greenback. Benjamin Cohen shows why neither the euro nor
the yuan will supplant the dollar at the top of the global currency
hierarchy. Cohen presents an innovative analysis of currency power
and emphasizes the importance of separating out the various roles
that international money might have. After systematically exploring
the links between currency internationalization and state power,
Cohen turns to the state of play among today's top currencies. The
greenback, he contends, is the "indispensable currency"-the one
that the world can't do without. Only the dollar is backed by all
the economic and political resources that make a currency powerful.
Meanwhile, the euro is severely handicapped by structural defects
in the design of its governance mechanisms, and the yuan suffers
from various practical limitations in both finance and politics.
Contrary to today's growing opinion, Currency Power demonstrates
that the dollar will continue to be the leading global currency for
some time to come.
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