Prospects of a multipolar international monetary order

The US dollar has been the dominant international currency ever since the introduction of Bretton Woods system. It has experienced turmoil periods at different moments but survived. But in the last twenty-five years the US has been undergoing persistent current account deficit and external debts. As...

Full description

Saved in:
Bibliographic Details
Main Author: Alam Md Whaheed
Other Authors: -
Format: Thesis-Master by Coursework
Language:English
Published: Nanyang Technological University 2020
Subjects:
Online Access:https://hdl.handle.net/10356/137966
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Nanyang Technological University
Language: English
id sg-ntu-dr.10356-137966
record_format dspace
spelling sg-ntu-dr.10356-1379662020-11-01T08:34:46Z Prospects of a multipolar international monetary order Alam Md Whaheed - S. Rajaratnam School of International Studies Jikon Lai isjikonlai@ntu.edu.sg Social sciences::Economic theory::Money and banking The US dollar has been the dominant international currency ever since the introduction of Bretton Woods system. It has experienced turmoil periods at different moments but survived. But in the last twenty-five years the US has been undergoing persistent current account deficit and external debts. As the US has been unable to make necessary fiscal adjustments, there has been growing concerns on the future prospects of US dollar as a dominant international currency. On the other hand, since the 2000s the world has been experiencing transformative changes in the economic landscape because of the rapid advances of emerging economies. Because of these developments, a multipolar international currency order would emerge in foreseeable future involving the US dollar, the euro and the renminbi. The US dollar would remain the dominant international currency in the multipolar currency order in this time horizon. The euro and the renminbi would be regional currencies mostly confined in Europe and Asia respectively. For a full blown multipolar international currency arrangement, both the Eurozone and China need to undertake certain reforms. The Eurozone needs to develop a deep and liquid financial market and continue policy supports for upholding its resilience and unity. On the other hand, China needs to make quick reforms in the areas of capital account convertibility, financial liberalization and flexible exchange rate. Master of Science (International Political Economy) 2020-04-20T10:13:06Z 2020-04-20T10:13:06Z 2020 Thesis-Master by Coursework https://hdl.handle.net/10356/137966 en application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Social sciences::Economic theory::Money and banking
spellingShingle Social sciences::Economic theory::Money and banking
Alam Md Whaheed
Prospects of a multipolar international monetary order
description The US dollar has been the dominant international currency ever since the introduction of Bretton Woods system. It has experienced turmoil periods at different moments but survived. But in the last twenty-five years the US has been undergoing persistent current account deficit and external debts. As the US has been unable to make necessary fiscal adjustments, there has been growing concerns on the future prospects of US dollar as a dominant international currency. On the other hand, since the 2000s the world has been experiencing transformative changes in the economic landscape because of the rapid advances of emerging economies. Because of these developments, a multipolar international currency order would emerge in foreseeable future involving the US dollar, the euro and the renminbi. The US dollar would remain the dominant international currency in the multipolar currency order in this time horizon. The euro and the renminbi would be regional currencies mostly confined in Europe and Asia respectively. For a full blown multipolar international currency arrangement, both the Eurozone and China need to undertake certain reforms. The Eurozone needs to develop a deep and liquid financial market and continue policy supports for upholding its resilience and unity. On the other hand, China needs to make quick reforms in the areas of capital account convertibility, financial liberalization and flexible exchange rate.
author2 -
author_facet -
Alam Md Whaheed
format Thesis-Master by Coursework
author Alam Md Whaheed
author_sort Alam Md Whaheed
title Prospects of a multipolar international monetary order
title_short Prospects of a multipolar international monetary order
title_full Prospects of a multipolar international monetary order
title_fullStr Prospects of a multipolar international monetary order
title_full_unstemmed Prospects of a multipolar international monetary order
title_sort prospects of a multipolar international monetary order
publisher Nanyang Technological University
publishDate 2020
url https://hdl.handle.net/10356/137966
_version_ 1683494399582928896