Skip to Content

Tag Archives: dollar

Globalisation – a poisoned chalice

  Against such a backdrop, financial globalisation appears to be a weak force. Yet it exists. It exists in many senses. Nations may raise capital controls – though surprisingly few actually have done. But there are ways round them. People’s desire to connect to the major centres of finance where the opportunities and investment chances…
» Continue Reading

How vulnerable is the dollar?

  There is no point dreaming about a new monetary order when the dollar remains dominant and is here to stay. At least, for all practical purposes.   That is the bottom line of most commentaries on proposals to reform the international monetary system, such as that advanced in The Money Trap.   Indeed, the…
» Continue Reading

Beijing sets out its stall

  Although the gloss has worn off the market’s initial enthusiastic endorsement of Beijing’s ambitious reform plans unveiled last month, there is little doubt they represent a major further move towards freeing financial markets – and promoting the international role of the RMB.   In addition to changes in how companies file for stock market…
» Continue Reading

The Meltzer plan for world money

  Professor Allan Meltzer has for some years advocated a reform of international monetary arrangements based on a joint adoption by large economies or areas of similar inflation targets. This is a summary.   The US, the Euro, Japan and China (if it ends its currency controls) should adopt a common 0 to 2 percent…
» Continue Reading

A North Atlantic trade and currency zone?

David Cameron’s speech threatening to pull the UK out of the EU unless the other members agree to its demands may have started a process of withdrawal that could become irreversible. Although this outcome would be contrary to the stated objectives of the UK prime minister and British government, commentators on both sides of the…
» Continue Reading

The world needs a new currency

The following article by Robert Pringle was published by The Christian Science Monitor on July 27. The financial crisis, the 2008/09 recession, the banking scandals that have followed, and today’s limping recovery are all linked. The common factor is the absence of a real international monetary and banking order. Only when such an order is restored will…
» Continue Reading