Written on the 50th anniversary of floating exchange rates, this paper deals with possible alternatives to a unipolar dollar-based system. It considers (1) measures of international currency use; (2) potential challengers to the dollar; (3) network externalities; and (4) the plausibility of gold and digital currencies, as alternatives to regular currencies. On the one hand, network externalities operate in favor of the status quo: the dollar as the single leading international currency. On the other hand, the danger of abuse of exorbitant privilege - for example, by debasing the currency or repeated use of sanctions - operates in favor of challengers. A good guess is that the dollar will continue to lose market share slowly to others, but will remain in the lead.

The economic crisis of 2007 showed how world economy depends on the U.S.. The ongoing devaluation of the dollar and the large and persistent trade deficits of the U.S. current account is a source of risk to American supremacy. The consequences of such unbalances afflict the entire economy and are therefore the subject of worldwide concern. Consequently, this bachelor thesis will take a look at the challenged dollar and its uprising rivals. This paper is organized as follows: In the next section, a description of the actual international monetary system (IMS) is provided. Following the chapter 2, a review of the determinants, which explain the internationalization of a currency, can be found in chapter 3 and 4. With help of these determinants, chapter 5 assesses the dollar competitors and the dollar itself. In chapter 6 we will describe other phenomena that reinforce the position of the dollar. Chapter 7 reviews the current situation regarding the IMS and finally, chapter 8 provides an outlook of the evolution. Throughout this approach, we will be looking for answers about the future of the pre-eminence of the dollar against other currencies, in particular the euro and the renmimbi.

It is, as a critic of U.S.

This book traces the dynamics of international rivalry from the late 1970s up through the present. Among the members of the dominant North political discord has become prominent recently in debates ranging from the Balkan Wars to the Second Gulf War. Yet a wide array of disputes--launching of global positioning systems to steel imports--have shattered the semblance of unity and cooperation among the members of the North, the triad of Europe, U.S., and east Asia. The book explores the subversive ways in which the configuration of economic networks in east Asia are subtly leaving their mark on the structure of the world-system. Also addressed are the ramifications on the South of this sharpening rivalry and, more importantly, whether this round of imperial rivalry will eventually give way, as previously in history, to new forms of international domination.

A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.

The sixteen original essays in this collection cover influential and famous rivalries from a variety of sports, including track and field, golf, boxing, basketball, tennis, ice skating, baseball, football, soccer, and more. The essays are diverse, but together they illustrate what is common to any rivalry: equally matched opponents that often have decidedly different backgrounds, styles, and personalities. These differences may center on race and culture, political and societal ideologies, personality, geography, or religion—a mix intensified by fans and the media. From highly publicized and emotionally charged individual competitions to bitterly fought team contests, Rivals illuminates what one-of-a-kind opponents and the passion they inspire tell us about ourselves and our society.