Currency Geography

Author: (USA) Kexian Qiang
Publisher:
Publish Date: 2004-07-01
Features: In Europe, the debate over the pros and cons of replacing the existing franc, lira, and peseta with a new unified currency is intense; governments in the former Soviet bloc and most developing countries are experiencing painful dilemmas on how to address the widespread circulation of popular foreign currencies, especially the US dollar, within their territorial boundaries; in the Far East, Asians are contemplating the risks and opportunities of establishing a new currency bloc based on the Japanese yen in the region; in the United States, Americans are concerned that the traditional preeminent status of the US dollar in international affairs, which they take pride in, is being threatened. Although these issues are essentially technical in nature, their implications for the global distribution of wealth and power are far from neutral. In fact, they touch upon the very essence of what we refer to as the sovereignty of states in the contemporary world. The purpose of this book is to correct misguided views with a proper perspective.