A World of Multiple Reserve Currencies
The world economy of the twenty-first century is becoming more multipolar, and there is no reason why the same should not be true of its international monetary system. In the end, that will be a good thing.
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BERKELEY – The competition for reserve-currency status is conventionally portrayed as a winner-take-all game. There is room, in this view, for just one full-fledged international currency. The only question is which national currency will capture the role.