Geopolitical Tensions and Global Monetary (Dis)Order
-
Barry Eichengreen
Abstract
Two sources of geopolitical tension – G7 sanctions on Russia and conflict between the United States and China – have the potential to reshape the global monetary system. This short paper argues that only the second is likely to have far-reaching, and heavily negative, consequences if allowed to develop further.
References
Caballero, J., A. Maurin, P. Wooldridge, and D. Xia. 2022. “The Internationalization of EME Currency Trading.” BIS Quarterly Review: 49–65.Search in Google Scholar
Eichengreen, B. 2022. “Somnolence to Dominance: A Hundred Years of the Foreign Exchange Market in London.” Journal of European Economic History 1: 75–111.Search in Google Scholar
Eichengreen, B. 2023. “International Finance and Geopolitics.” Asian Economic Policy Review 18. https://doi.org/10.1111/aepr.12436.Search in Google Scholar
Eichengreen, B., R. Lafarguette, A. Mehl, and M. Minesso. 2023. “Technology and the Geography of the Foreign Exchange Market.” Journal of International Money and Finance 131. https://doi.org/10.1016/j.jimonfin.2023.102802.Search in Google Scholar
Eichengreen, B., A. Mehl, and L. Chitu. 2019. “Mars or Mercury? The Geopolitics of International Currency Choice.” Economic Policy 34: 315–63. https://doi.org/10.1093/epolic/eiz005.Search in Google Scholar
Financial Times. 2023. “How the US Is Pushing China Out of the Internet’s Plumbing.” Financial Times.Search in Google Scholar
People’s Bank of China. 2023. Payment System Report 2022. Shanghai: PBOC.Search in Google Scholar
Reuters. 2023. India, Russia Suspend Negotiations to Settle Trade in Renminbi. London: Reuters.Search in Google Scholar
© 2023 Walter de Gruyter GmbH, Berlin/Boston
Articles in the same Issue
- Frontmatter
- Editorial
- The Economists’ Voice, December Issue 2023, Geopolitical Tensions and Economic Policy Making
- Policy Papers
- European Public Policies and Sovereign Risk in the Eurozone: How State-Contingent Governance Hampers Fiscal Discipline
- The Reform of the European Fiscal Rules: In Search of Mechanisms Ensuring Sustainable Debt Levels
- How Brexit Damaged the United Kingdom and the City of London
- Understanding Economic Sanctions on Iran: A Survey
- A Soufflé only Rises Once: China’s Grim Economic Prospects
- Policy Forum: Geopolitical Tensions and Deglobalization
- Deglobalization: Reasons and Effects
- Geopolitical Tensions and Global Monetary (Dis)Order
- From BRICS to BRICS+: Sheer More Members is not a Challenge to G7
- The Rise and Fall of the Eurasian Regionalism
- Caught up by Geopolitics: Sanctions and the EU’s Response to Russia’s War Against Ukraine
- China’s Central Role in the Globalization and Slowbalization Trends
- German Chinese Economic Relations: Necessary Reassessment
- China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA
- Systemic Rivalry of China and the West in Climate Policy
Articles in the same Issue
- Frontmatter
- Editorial
- The Economists’ Voice, December Issue 2023, Geopolitical Tensions and Economic Policy Making
- Policy Papers
- European Public Policies and Sovereign Risk in the Eurozone: How State-Contingent Governance Hampers Fiscal Discipline
- The Reform of the European Fiscal Rules: In Search of Mechanisms Ensuring Sustainable Debt Levels
- How Brexit Damaged the United Kingdom and the City of London
- Understanding Economic Sanctions on Iran: A Survey
- A Soufflé only Rises Once: China’s Grim Economic Prospects
- Policy Forum: Geopolitical Tensions and Deglobalization
- Deglobalization: Reasons and Effects
- Geopolitical Tensions and Global Monetary (Dis)Order
- From BRICS to BRICS+: Sheer More Members is not a Challenge to G7
- The Rise and Fall of the Eurasian Regionalism
- Caught up by Geopolitics: Sanctions and the EU’s Response to Russia’s War Against Ukraine
- China’s Central Role in the Globalization and Slowbalization Trends
- German Chinese Economic Relations: Necessary Reassessment
- China’s Economy as Xi’s Means of Power Or Why the Chinese Economy is Not yet Bigger than That of the USA
- Systemic Rivalry of China and the West in Climate Policy
