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Monetary hegemony is an economic and political concept in which a single state has decisive influence over the functions of the international monetary system. A monetary hegemon would need: accessibility to international credits ,
Hegemony (/ h ɛ ˈ dʒ ɛ m ən i / ⓘ, UK also / h ɪ ˈ ɡ ɛ m ən i /, US also / ˈ h ɛ dʒ ə m oʊ n i /) is the political, economic, and military predominance of one state over other states, either regional or global. [1] [2] [3] In Ancient Greece (ca. 8th BC – AD 6th c.), hegemony denoted the politico-military dominance of the ...
The British pound sterling, in particular, was poised to dislodge the Spanish dollar's hegemony as the rest of the world transitioned to the gold standard in the last quarter of the 19th century. At that point, the UK was the primary exporter of manufactured goods and services, and over 60% of world trade was invoiced in pounds sterling.
Hegemonic stability theory (HST) is a theory of international relations, rooted in research from the fields of political science, economics, and history.HST indicates that the international system is more likely to remain stable when a single state is the dominant world power, or hegemon. [1]
The plan involved nations agreeing to a system of fixed but adjustable [clarification needed] exchange rates so that the currencies were pegged against the dollar, with the dollar itself convertible into gold. So in effect this was a gold – dollar exchange standard. There were a number of improvements on the old gold standard.
This would involve a gradual move away from the U.S. dollar as a reserve currency and towards the use of IMF special drawing rights (SDRs) as a global reserve currency. Zhou argued that part of the reason for the original Bretton Woods system breaking down was the refusal to adopt Keynes ' bancor which would have been a special international ...
The bank says the increase in the numbers of people identified as being affected by the dam came because the project’s managers used a broader definition of affected households. In other cases, bank officials have attributed shifting numbers for people harmed by projects to later expansions in projects’ size or to population growth during ...
The term exorbitant privilege (privilège exorbitant in French) refers to the benefits the United States has due to its own currency (the US dollar) being the international reserve currency. For example, the US would not face a balance of payments crisis, because their imports are purchased in their own currency. Exorbitant privilege as a ...