In a compendium of short-form articles, Dennis J. Snower explores whether the US dollar's dominance as the world's reserve currency is at risk, and, if so, whether its fall could trigger a financial tsunami.
Long seen as unassailable in its dominance, the dollar's preeminent position is coming under increasing strain. Snower breaks down the issue sequentially, looking first at the underpinnings of what has been America's 'exorbitant privilege', then considering the unfolding threats to its status, and finally looking at what global cooperation might look like to address it's fall from status.
