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DEBATE: The Dollar at Bay?

President Xi Jinping wants China to take center stage in world affairs, and with China's economy expected to overtake America’s, perhaps during Xi’s presidency, he could get his wish. Will China’s dynamism – and Donald Trump’s carelessness – lead to the renminbi replacing the dollar as the world’s main reserve currency?

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  1. Barry EichengreenBarry Eichengreen
  2. Paola SubacchiPaola Subacchi

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The Demise of Dollar Diplomacy?

Barry Eichengreen

Pundits have been saying last rites for the dollar’s global dominance since the 1960s – that is, for more than half a century now. But the pundits may finally be right, because the greenback's dominance has been sustained by geopolitical alliances that are now fraying badly.

shows how President Donald Trump's contempt for US allies could weaken the greenback.

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