Die Zeit nach dem Dollar

NEW YORK – Dass der jüngste BRICS-Gipfel im brasilianischen Fortaleza genau sieben Jahrzehnte nach der Bretton-Woods-Konferenz stattfand, auf der der Internationale Währungsfonds und die Weltbank gegründet wurden, ist zutiefst symbolträchtig. Das Hauptergebnis des BRICS-Treffens war die Ankündigung der Neuen Entwicklungsbank. Diese wird Ressourcen für Projekte in den Bereichen Infrastruktur und Nachhaltiger Entwicklung sowie eine Kontingentreserveeinrichtung zur Bereitstellung von Liquidität durch Währungs-Swaps zur Verfügung stellen.

Die Bretton-Woods-Konferenz ist eines der bemerkenswertesten Beispiele internationaler Wirtschaftszusammenarbeit in der Geschichte. Und auch wenn noch niemand sagen kann, ob die Initiativen der BRICS Erfolg haben werden, sind doch auf jeden Fall eine große Herausforderung für die Bretton-Woods-Institutionen, die darauf reagieren sollten. Beispielsweise sollte die Rolle des US-Dollar im internationalen Geldsystem neu überdacht werden.

Ein Schlüsselaspekt des Bretton-Woods-Systems bestand darin, dass Länder ihre Wechselkurse an den US-Dollar koppelten. Auch wenn dieses System 1971 de facto abgeschafft wurde, blieb die zentrale Rolle des US-Dollars im internationalen Währungssystem intakt – eine Realität, die viele Länder immer weniger zu akzeptieren geneigt sind.

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