Currency Statecraft: Monetary Rivalry and Geopolitical Ambition

Benjamin J. Cohen

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Sprache: Englisch

Verlag: The University of Chicago Press, United States, 2018

022658772X / 9780226587721

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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 currenciesgaininternational 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 countrys 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. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged.…

Bestandsnummer des Verkäufers GOR012050966

Titel
Currency Statecraft: Monetary Rivalry and Geopolitical Ambition
Autor
Benjamin J. Cohen
Verlag
The University of Chicago Press, United States
Erscheinungsjahr
2018
Zustand
Very Good
Einband
Paperback
Sprache
Englisch
ISBN-10
022658772X
ISBN-13
9780226587721
Artikelgewicht
304 Gramm
Abmessungen
15.0 x 23.0

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