Reference no: EM133202791 , Length: 2000 words
Question
US dollar AND reserve currency
Or other key search terms of your choice.
Aim to find 4+ peer-reviewed journal articles. Books and newspaper articles (e.g. Financial Times) are acceptable in addition.
Aim to have some sources FOR, others AGAINST. One way to find additional sources is by studying the references list at the end of your initial source(s).
It's good to find recent sources if you can.
Possible starting point from university library databases Canzoneri, M., Lumby, R., Diba, B. and Lopez-Salido, D. (2013) Key Currency Status: An Exorbitant Privilege and Extraordinary Risk. Journal of International Money and Finance. 37: 371-93.
Costigan, T., Cottle, D. and Keys, A. (2017) The US Dollar as the Global Reserve Currency: Implications for US Hegemony. World Review of Political Economy. Vol. 8, No. 1 (Spring 2017), pp. 104 - 122.
What made the $ a reserve currency in the first place? What conditions need to be satisfied to become a "safe haven" asset?
Which candidates could replace the dollar? Under what conditions? The yuan? Cryptocurrencies?
What is happening now?
Financial Times articles...
10 March 2022: Toppling the dollar as reserve currency risks harmful fragmentation.
27 Feb 2022: China, Russia and the race to a post dollar world
25 May 2021: The demise of the dollar?
Question: By critically analysing relevant literature, assess whether there is potential (or not) for the US dollar to be supplanted by another currency as the world's reserve currency.