Suchergebnisse

Part 1 Actor behaviour in international economic relations - the state as unitary actor: foreign economic policy - some general principles of analysis; United States monetary policy and economic nationalism. Part 2 Adding the domestic dimension - the United States: international debt and linkage strategies - some foreign-policy implications for the United States; the revolution in Atlantic economic relations - a bargain comes unstuck; an explosion in the kitchen? US economic relations with other advanced industrial states. Part 3 Adding the domestic dimension - examples from Europe: Britain's decision to join the Common Market; Europe's money, America's problem; European financial integration and national banking interests. Part 4 Issues of systemic organization and management: the political economy of monetary reform today; balance-of-payments financing - evolution of a regime; toward a general theory of imperialism.

Frontmatter -- CONTENTS -- List of Illustrations -- Acknowledgments -- Abbreviations -- Introduction -- CHAPTER ONE The American School -- CHAPTER TWO The British School -- CHAPTER THREE A Really Big Question -- CHAPTER FOUR The Control Gap -- CHAPTER FIVE The Mystery of the State -- CHAPTER SIX What Have We Learned? -- CHAPTER SEVEN New Bridges? -- References -- Index

Intro -- Contents -- List of Tables -- Acknowledgments -- Abbreviations -- Introduction -- One. From Currency to Capabilities -- Two. From Capabilities to Statecraft -- Three. A Theory of Currency Statecraft -- Four. Youth -- Five. Maturity -- Six. Decline -- Seven. When Statecrafts Collide -- Eight. Conclusion -- References -- Index.

Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world's dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America's greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy. Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today's top currencies. The greenback, he contends, is the "indispensable currency"—the one that the world can't do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics. Contrary to today's growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come

Overview: Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world's dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America's greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy. Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today's top currencies. The greenback, he contends, is the "indispensable currency"--The one that the world can't do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics. Contrary to today's growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come

This collection distills the views of one of the world's leading scholars in global currency, and will be of considerable interest to students and scholars of international finance and international political economy. --Book Jacket.