Possible Reforms of the Dollar-Centered Reserve System

Anthony Elson

Chapter Chapter 7 in The Global Currency Power of the US Dollar, 2021, pp 121-137 from Springer

Abstract: Abstract This is the first of three chapters dealing with possible reforms of the current international monetary system with a view to alleviating the problems and defects presented in the previous two chapters. Specifically, this chapter examines the prospects for a shift over time to a multipolar reserve system comprising the dollar, euro and renminbi. While recognizing that some changes in this direction have already taken place, the chapter considers the key measures by which these currencies fall behind the dollar as reserve currencies and identifies the principal burdens for the euro and renminbi to overcome before such a shift could be accomplished.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-83519-4_7

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DOI: 10.1007/978-3-030-83519-4_7

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