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The Global Currencies Conundrum

Edited By John Ryan

This book discusses the emergence of a multi-polar currency system. With the US Dollar’s hegemony as global reserve currency in question, it examines the role of the Federal Reserve in its decline, the emergence of the Euro in a multi-polar currency system and the Chinese influence in this most important policy arena. China’s concerns about its US Dollar reserves are being amplified by the low returns of some of its investments in the United States. Today’s reserve currency system effectively results in China lending to the US at very low interest rates.
China needs to diversify out of the Dollar and it is this monetary policy that will fundamentally change the global currency scenario. China has been supportive of the Euro since its creation and is also lending support to the IMF’s special drawing rights. At the same time, Chinese policy targets the internationalisation of the Renminbi and with that the creation of a multi-polar monetary order.
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DR MIGUEL OTERO IGLESIAS is Senior Analyst for the European Economy and Emerging Markets at the Elcano Royal Institute in Madrid and Research Fellow at the Centre for European Integration at ESSCA School of Management in Paris. He is a regular visiting scholar to the Institute of World Economics and Politics at the Chinese Academy of Social Sciences in Beijing. Previously he was research fellow at the Centre for International Studies at the London School of Economics and Political Science and Adjunct Lecturer for Queen Elizabeth House at Oxford University. His main area of research is the international political economy of money and finance, focusing particularly on European and international monetary affairs. He is the author of the book The Euro, the Dollar and the Global Financial Crisis.

DR MARIE-JOSé RINALDI-LARRIBE holds a PhD in Economics and graduated from the Institute of Political Science (Sciences Po) of Paris. Professor at the International University of Monaco from 2004 to June 2014, she is now a Professor at EDHEC Business School, in France. Expert in European economics and politics, she published two books and several academic articles on European matters.

ProfessorJOHN RYAN is Research Associate at the Von Hügel Institute of St Edmund’s College, University of Cambridge. Previously he was Head of School at SCMS London, an international campus of SCMS Cochin, India. Professor Ryan was a fellow at the London School of Economics and Political Science Centre for International Studies and the European Integration...

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