The history and future of the preeminence of the US Dollar,
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This review is from: Exorbitant Privilege: The Rise and Fall of the Dollar (Hardcover)This is a fascinating account of global finance, with particular reference to the US dollar, but with a keen look at the Euro too. Tracing the history of the development of the preeminence of the US dollar as the main reserve currency, and as the currency of international trade, the author also gives a fascinating insight into likely developments in the Euro zone and China, both economically and politically.
Eichengreen concludes that the future of the dollar as the main reserve currency, and of the great advantage that this confers on the us economy, is still very much in US hands, and is primarily dependant upon political will to reduce the deficit.
A familiarity with financial markets is a real advantage in reading this book.Although I have a reasonable understanding of economics, and although this book is written in fairly plain language, I found that I had to re-read some pages to fully grasp the ideas contained. Worth the effort though - this is a very informative and thought provoking book