A powerful new understanding of global currency trends, including the rise of the Chinese yuanAt 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.
✔ Author(s): Barry Eichengreen,Arnaud Mehl,Livia Chitu
✔ Title: How Global Currencies Work: Past, Present, and Future
✔ Rating : 4.5 out of 5 base on (44 reviews)
✔ ISBN-10: 0691191867
✔ ISBN-13: 9780691191867
✔ Language: English
✔ Format ebook: PDF, EPUB, Kindle, Audio, HTML and MOBI
✔ Device compatibles: Android, iOS, PC and Amazon Kindle
Readers' opinions about How Global Currencies Work by Barry Eichengreen
Polly Hurlbutt
What a rollercoaster of emotions! I laughed, cried, and everything in between. The author's ability to evoke such raw feelings is truly commendable. It's a story that will stay with me forever.
Tasha Cobbett
The rich historical context of the book added a layer of depth that I found fascinating. It was like stepping back in time and experiencing history firsthand.
Violet Tyler
The themes of resilience and hope resonated deeply with me. This book taught me valuable life lessons that I'll carry with me for years to come.
