Description - Exorbitant Privilege by Barry Eichengreen
Since the Second World War, the US dollar has been the world's sole international reserve currency, giving it, in the words of one famous critic of US policies, an 'exorbitant privilege'. But in the wake of the worldwide financial crisis, will other currencies overtake it? And what impact would that have? Barry Eichengreen explains the history and assesses what may come.
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