Currency Statecraft

In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven ...

Currency Statecraft

Currency Statecraft

At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different circumstances, issuing governments may welcome and promote the internationalization of their currency, tolerate it, or actively oppose it. Benjamin J. Cohen offers a provocative explanation of the strategic policy choices at play. In a comprehensive review that ranges from World War II to the present, Cohen convincingly argues that one goal stands out as the primary motivation for currency statecraft: the extent of a country’s geopolitical ambition, or how driven it is to build or sustain a prominent place in the international community. When a currency becomes internationalized, it generally increases the power of the nation that produces it. In the persistent contestation that characterizes global politics, that extra edge can matter greatly, making monetary rivalry an integral component of geopolitics. Today, the major example of monetary rivalry is the emerging confrontation between the US dollar and the Chinese renminbi. Cohen describes how China has vigorously promoted the international standing of its currency in recent years, even at the risk of exacerbating relations with the United States, and explains how the outcome could play a major role in shaping the broader geopolitical engagement between the two superpowers.

More Books:

Currency Statecraft
Language: en
Pages: 208
Authors: Benjamin J. Cohen
Categories: Business & Economics
Type: BOOK - Published: 2018-11-15 - Publisher: University of Chicago Press

At any given time, a limited number of national currencies are used as instruments of international commerce, to settle foreign trade transactions or store value for investors and central banks. How countries whose currencies gain international appeal choose to use this status forms their strategy of currency statecraft. In different
Monetary Statecraft in Brazil
Language: en
Pages: 206
Authors: Kurt Mettenheim
Categories: Business & Economics
Type: BOOK - Published: 2015-11-19 - Publisher: Routledge

Brazil has one of the world’s fastest growing economies and a fascinating history underpinning its evolution. This book presents an analysis of the state’s role in monetary policy, from the latter days of Portuguese rule, to the present day. Based on a variety of unknown archival sources, this study offers
Monetary Statecraft in Brazil
Language: en
Pages: 206
Authors: Kurt Mettenheim
Categories: Business & Economics
Type: BOOK - Published: 2015-11-19 - Publisher: Routledge

Brazil has one of the world’s fastest growing economies and a fascinating history underpinning its evolution. This book presents an analysis of the state’s role in monetary policy, from the latter days of Portuguese rule, to the present day. Based on a variety of unknown archival sources, this study offers
The International Political Economy of the Renminbi
Language: en
Pages: 206
Authors: Hyoung-kyu Chey
Categories: Business & Economics
Type: BOOK - Published: 2021-11-11 - Publisher: Routledge

Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this book addresses the question of how foreign states have responded to the renminbi’s internationalization,
Economic Statecraft
Language: en
Pages: 496
Authors: David A. Baldwin
Categories: Political Science
Type: BOOK - Published: 2020-09-22 - Publisher: Princeton University Press

A new edition of the classic work on the economic tools of foreign policy Today's complex and dangerous world demands a complete understanding of all the techniques of statecraft, not just military ones. David Baldwin's Economic Statecraft presents an analytic framework for evaluating such techniques and uses it to challenge

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