Name: Currency Statecraft: Monetary Rivalry and Geopolitical Ambition
Price: 126.36 EUR
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Author: Benjamin J Cohen
ISBN: 9780226587691

portada Currency Statecraft: Monetary Rivalry and Geopolitical Ambition

Currency Statecraft: Monetary Rivalry and Geopolitical Ambition

Type

Physical Book

Publisher

University Of Chicago Press

Author

Benjamin J Cohen

Year

2018

Language

English

Pages

208

Format

Hardcover

ISBN13

9780226587691

Edition No.

Synopsis "Currency Statecraft: Monetary Rivalry and Geopolitical Ambition "

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.

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Currency Statecraft: Monetary Rivalry and Geopolitical Ambition - Benjamin J Cohen

Synopsis "Currency Statecraft: Monetary Rivalry and Geopolitical Ambition "

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