The Global Currency Power of the US Dollar

Examining the role of the US dollar as the dominant global reserve currency, this book analyzes the factors contributing to its power and the advantages it offers to both the US and other nations. It also addresses the potential drawbacks of a dollar-centric system, including risks to global financial stability. Furthermore, the book explores three alternative currency arrangements—transitioning to a multi-reserve currency system, enhancing the IMF's role, and introducing central bank digital currencies—to mitigate the challenges posed by the current system.