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Future of the Dollar

Future of the Dollar

Paperback

Series: Cornell Studies in Money

Business GeneralInvesting & Finance

ISBN10: 0801475619
ISBN13: 9780801475610
Publisher: Cornell University Press
Published: Sep 15 2009
Pages: 272
Weight: 0.80
Height: 0.70 Width: 6.00 Depth: 8.90
Language: English

For half a century, the United States has garnered substantial political and economic benefits as a result of the dollar's de facto role as a global currency. In recent years, however, the dollar's preponderant position in world markets has come under challenge. The dollar has been more volatile than ever against foreign currencies, and various nations have switched to non-dollar instruments in their transactions. China and the Arab Gulf states continue to hold massive amounts of U.S. government obligations, in effect subsidizing U.S. current account deficits, and those holdings are a point of potential vulnerability for American policy.

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