Yale University Press Hardback English
King Dollar
The Past and Future of the World's Dominant Currency
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An award-winning economic journalist on why the US dollar is positioned to maintain global primacyand what that means for America and the world Prophecies that the dollar will lose its status as the worlds dominant currency have echoed for decadesand are increasing in volume. Cryptocurrency enthusiasts claim that Bitcoin or other blockchain-based monetary units will replace the dollar. Foreign policy hawks warn that Chinas renminbi poses a lethal threat to the greenback. And sound money zealots predict that mounting US debt and inflation will surely erode the dollars value to the point of irrelevancy. Contra the doomsayers, Paul Blustein shows that the dollars standing atop the worlds currency pyramid is impregnable, barring catastrophic policy missteps by the US government. Recounting how the United States has wielded the dollar to impose devastating sanctions against adversaries, Blustein explains that although targets such as Russia have found ways to limit the damage, Washingtons financial weaponry will retain potency long into the future. His message, however, is that America must not be complacent about the dollar; the great power that its supremacy confers comes with commensurate responsibility.
An award-winning economic journalist on why the US dollar is positioned to maintain global primacyand what that means for America and the world
Prophecies that the dollar will lose its status as the worlds dominant currency have echoed for decadesand are increasing in volume. Cryptocurrency enthusiasts claim that Bitcoin or other blockchain-based monetary units will replace the dollar. Foreign policy hawks warn that Chinas renminbi poses a lethal threat to the greenback. And sound money zealots predict that mounting US debt and inflation will surely erode the dollars value to the point of irrelevancy.
Contra the doomsayers, Paul Blustein shows that the dollars standing atop the worlds currency pyramid is impregnable, barring catastrophic policy missteps by the US government. Recounting how the United States has wielded the dollar to impose devastating sanctions against adversaries, Blustein explains that although targets such as Russia have found ways to limit the damage, Washingtons financial weaponry will retain potency long into the future. His message, however, is that America must not be complacent about the dollar; the great power that its supremacy confers comes with commensurate responsibility.