How Global Currencies Work
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How Global Currencies Work
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Author : Barry Eichengreen
language : en
Publisher: Princeton University Press
Release Date : 2019-02-26
How Global Currencies Work written by Barry Eichengreen and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-26 with Business & Economics categories.
A powerful new understanding of global currency trends, including the rise of the Chinese yuan At first glance, the history of the modern global economy seems to support the long-held view that the currency of the world’s leading power invariably dominates international trade and finance. But in How Global Currencies Work, three noted economists overturn this conventional wisdom. Offering a new history of global finance over the past two centuries and marshaling extensive new data to test current theories of how global currencies work, the authors show that several national monies can share international currency status—and that their importance can change rapidly. They demonstrate how changes in technology and international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. In fact, they show that multiple international and reserve currencies have coexisted in the past—upending the traditional view of the British pound’s dominance before 1945 and the U.S. dollar’s postwar dominance. Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, including how increased currency competition might affect global financial stability.
Globalizing Capital
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Author : Barry Eichengreen
language : en
Publisher: Princeton University Press
Release Date : 2019-08-06
Globalizing Capital written by Barry Eichengreen and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-06 with Business & Economics categories.
Essential reading for understanding the international economy—now thoroughly updated Lucid, accessible, and provocative, and now thoroughly updated to cover recent events that have shaken the global economy, Globalizing Capital is an indispensable account of the past 150 years of international monetary and financial history—from the classical gold standard to today's post–Bretton Woods "nonsystem." Bringing the story up to the present, this third edition covers the global financial crisis, the Greek bailout, the Euro crisis, the rise of China as a global monetary power, the renewed controversy over the international role of the U.S. dollar, and the currency war. Concise and nontechnical, and with a proven appeal to general readers, students, and specialists alike, Globalizing Capital is a must-read for anyone who wants to understand where the international economy has been—and where it may be going.
Monetary Plurality In Local Regional And Global Economies
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Author : Georgina M. Gómez
language : en
Publisher: Routledge
Release Date : 2018-10-09
Monetary Plurality In Local Regional And Global Economies written by Georgina M. Gómez and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-09 with Business & Economics categories.
The idea that each country should have one currency is so deeply rooted in people’s minds that the possibility of multiple and concurrent currencies seems unthinkable. Monetary systems contribute to problems of high unemployment and social distress during financial and economic crisis, so reforms to increase the responsiveness and flexibility of the monetary system can be part of the solution. This book discusses ‘monetary plurality’, which is the circulation of several currencies at the same time and space. It addresses how multiple currency circuits work together and transform socio-economic systems, particularly by supporting economies at the local level of regions and cities. The book shows that monetary plurality has been ubiquitous throughout history and persists at present because the existence of several currency circuits facilitates small-scale production and trade in a way that no single currency can accomplish on its own. Monetary plurality can improve resilience, access to livelihoods and economic sustainability. At the same time, it introduces new risks in terms of economic governance, so it needs to be properly understood. The book analyses experiences of monetary plurality in Europe, Japan, and North and South America, written by researchers from East and West and from the global North and South. Replete with case studies, this book will prove a valuable addition to any student or practitioner’s bookshelf.
The Future Of Money
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Author : Eswar S. Prasad
language : en
Publisher: Harvard University Press
Release Date : 2021-09-28
The Future Of Money written by Eswar S. Prasad and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-28 with Business & Economics categories.
A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.
A Global History Of Money
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Author : Akinobu Kuroda
language : en
Publisher: Routledge
Release Date : 2020-03-23
A Global History Of Money written by Akinobu Kuroda and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-23 with Business & Economics categories.
Looking from the 11th century to the 20th century, Kuroda explores how money was used and how currencies evolved in transactions within local communities and in broader trade networks. The discussion covers Asia, Europe and Africa and highlights an impressive global interconnectedness in the pre-modern era as well as the modern age. Drawing on a remarkable range of primary and secondary sources, Kuroda reveals that cash transactions were not confined to dealings between people occupying different roles in the division of labour (for example shopkeepers and farmers), rather that peasants were in fact great users of cash, even in transactions between themselves. The book presents a new categorization framework for aligning exchange transactions with money usage choices. This fascinating monograph will be of great interest to advanced students and researchers of economic history, financial history, global history and monetary studies.
Currencies After The Crash The Uncertain Future Of The Global Paper Based Currency System
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Author : Sara Eisen
language : en
Publisher: McGraw Hill Professional
Release Date : 2012-10-26
Currencies After The Crash The Uncertain Future Of The Global Paper Based Currency System written by Sara Eisen and has been published by McGraw Hill Professional this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-26 with Business & Economics categories.
From the brightest minds in the field—a revealing look at how countries use their currencies to achieve prosperity . . . and the coming repercussions Bloomberg Television's Sara Eisen sheds light on the complex global financial system through this illuminating collection of essays. She hand selected the crème de la crème of authors from the world's most prestigious academic institutions and esteemed professional organizations to share—for the first time in print—their observations and deductions on the topics that matter most to you and your future wealth, including: • THE RELATIONSHIP BETWEEN CURRENCIES AND FINANCIAL CRISES • THE FLAWS WITHIN THE INTERNATIONAL EXCHANGE RATE SYSTEM AND THEIR CONSEQUENCES • HOW EMERGING MARKETS FIT INTO THE CURRENT AND FUTURE EXCHANGE RATE FRAMEWORK • THE IMPACT EXCHANGE RATES HAVE ON FREE TRADE AND ECONOMIC GROWTH • WHAT DEFINES A "SAFE HAVEN" CURRENCY AND ITS ROLE • POTENTIAL SOLUTIONS TO THE CURRENT ECONOMIC PROBLEMS "Today's fiat currency system is based upon trust among market participants, politicians, and central bankers--and that trust is assembled around the reserve currency that enjoys an exorbitant privilege. The reserve status is in doubt in a post financial crisis era but alternatives are lacking. . . . This book is a great guide on how the global currency system is morphing into apotential new standard, but not without the necessary volatility."—Ben Emons, Senior Vice President, Portfolio Manager, PIMCO
Thai Art
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Author : David Teh
language : en
Publisher: MIT Press
Release Date : 2017-04-07
Thai Art written by David Teh and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-07 with Art categories.
The interplay of the local and the global in contemporary Thai art, as artists strive for international recognition and a new meaning of the national. Since the 1990s, Thai contemporary art has achieved international recognition, circulating globally by way of biennials, museums, and commercial galleries. Many Thai artists have shed identification with their nation; but “Thainess” remains an interpretive crutch for understanding their work. In this book, the curator and critic David Teh examines the tension between the global and the local in Thai contemporary art. Writing the first serious study of Thai art since 1992 (and noting that art history and criticism have lagged behind the market in recognizing it), he describes the competing claims to contemporaneity, as staked in Thailand and on behalf of Thai art elsewhere. He shows how the values of the global art world are exchanged with local ones, how they do and don't correspond, and how these discrepancies have been exploited. How can we make sense of globally circulating art without forgoing the interpretive resources of the local, national, or regional context? Teh examines the work of artists who straddle the local and the global, becoming willing agents of assimilation yet resisting homogenization. He describes the transition from an artistic subjectivity couched in terms of national community to a more qualified, postnational one, against the backdrop of the singular but waning sovereignty of the Thai monarchy and sustained political and economic turmoil. Among the national currencies of Thai art that Teh identifies are an agricultural symbology, a Siamese poetics of distance and itinerancy, and Hindu-Buddhist conceptions of charismatic power. Each of these currencies has been converted to a legal tender in global art—signifying sustainability, utopia, the conceptual, and the relational—but what is lost, and what may be gained, in such exchanges?
The Single Global Currency Common Cents For The World
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Author : Morrison Bonpasse
language : en
Publisher:
Release Date : 2006-04
The Single Global Currency Common Cents For The World written by Morrison Bonpasse and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-04 with International finance categories.
This 2014 Edition of THE SINGLE GLOBAL CURRENCY - COMMON CENTS FOR THE WORLD is the fifth book of this name, and it updates the text of the original 2006 edition. The 2007, 2008 and 2009 editions included the original edition together with an annual update appendix. Future editions are planned in five year increments for 2019 and 2024, the latter date being the 80th anniversary of the 1944 Bretton Woods Conference. The book is for all readers around the world, as every human being in our increasingly globalized world has an interest in achieving the goal of a Single Global Currency. What the people of the world want and deserve is stable money, so that the money they earn, save and invest today will be worth almost the same tomorrow. The Single Global Currency will provide that stability. It is the common cents/sense currency for our increasingly globalized world. The current multicurrency global monetary system is volatile and extremely risky as $5.3 trillion worth of currencies are traded every trading day on the global foreign exchange markets. Currencies crises are a continuing threat. Avoiding the effects and risks of currency fluctuations and rapid flows of cross-currency capital were the primary goals of the International Monetary Fund at its 1945 creation, and the Single Global Currency will solve both problems. The Single Global Currency will be managed by a Global Central Bank within a Global Monetary Union. Since 1999, the primary model for this "3-G" system has been the euro which is managed by the European Central Bank within the European Monetary Union. Beginning with 12 member countries, the eurozone now has 18 members and continues to grow toward its full potential of all the members of the growing European Union, which now number 28. Creation of a Single Global Currency is not a new idea or goal, but is now feasible thanks to automation and the increasing interdependence of the world's peoples. The potential benefits of a Single Global Currency are staggering: - Worldwide asset values will increase by about $10 trillion. - Worldwide GDP will increase by $trillions. - Global trade will increase by $trillions. - Annual FX trading transaction costs of $300 billion will be avoided. - Global currency/payments imbalances will be eliminated. - Currency crises will be eliminated. - Currency speculation will be eliminated. - The need for unproductive foreign exchange reserves will be eliminated. Currently, the 193 members of the United Nations use 140 currencies for their international and domestic transactions. The 50+ members without their own national currencies are using the currencies of monetary unions of which they are members, or they are using ("izing") the currencies of other countries or monetary unions. As existing monetary unions in Europe, the Caribbean and Africa are expanded, and as new monetary unions are created in Africa, the Americas, Asia and the Mid-East, the number of currencies will continue to decline. At some "tipping point," perhaps after a merger of large currencies, the largest monetary union currency will likely be designated as the world's Single Global Currency. This process can be accelerated when individuals, nations and global institutions openly declare their support for a Single Global Currency and they initiate the necessary steps toward that goal. Such steps will include a global internet-based naming process for the new currency and a timeline for implementation. There is little question that the world is moving toward a Single Global Currency. The remaining question is When? The global challenge will be to achieve the Single Global Currency with a smooth transition from the existing multicurrency system. It is hoped that this book, and the work of the Single Global Currency Association (www.singleglobalcurrency.org) will help move the world in that direction.
Reserve Currency
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-01-25
Reserve Currency written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-25 with Business & Economics categories.
What is Reserve Currency Reserve currencies are foreign currencies that are held in considerable quantities by central banks or other monetary authorities as part of their foreign exchange reserves. Reserve currencies are also known as reserve currencies. All areas of the global economy, including foreign transactions, international investments, and financial activities, are able to make use of the reserve currency. Additionally, it is frequently referred to as a hard money or a safe-haven currency. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Reserve currency Chapter 2: Currency Chapter 3: Special drawing rights Chapter 4: Currency substitution Chapter 5: Global financial system Chapter 6: Hard currency Chapter 7: Balance of payments Chapter 8: Bretton Woods system Chapter 9: Currency board Chapter 10: Foreign exchange reserves Chapter 11: Time-based currency Chapter 12: Triffin dilemma Chapter 13: Bancor Chapter 14: World currency Chapter 15: Monetary hegemony Chapter 16: International monetary system Chapter 17: London Gold Pool Chapter 18: Currency basket Chapter 19: International use of the U.S. dollar Chapter 20: Foreign-exchange reserves of India Chapter 21: China and the International Monetary Fund (II) Answering the public top questions about reserve currency. (III) Real world examples for the usage of reserve currency in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Reserve Currency.
Dealing In Desire
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Author : Kimberly Kay Hoang
language : en
Publisher: Univ of California Press
Release Date : 2015-02-11
Dealing In Desire written by Kimberly Kay Hoang and has been published by Univ of California Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Social Science categories.
This captivating ethnography explores Vietnam’s sex industry as the country ascends the global and regional stage. Over the course of five years, author Kimberly Kay Hoang worked at four exclusive Saigon hostess bars catering to diverse clientele: wealthy local Vietnamese and Asian businessmen, Viet Kieus (ethnic Vietnamese living abroad), Western businessmen, and Western budget-tourists. Dealing in Desire takes an in-depth and often personal look at both the sex workers and their clients to show how Vietnamese high finance and benevolent giving are connected to the intimate spheres of the informal economy. For the domestic super-elite who use the levers of political power to channel foreign capital into real estate and manufacturing projects, conspicuous consumption is a means of projecting an image of Asian ascendancy to potential investors. For Viet Kieus and Westerners who bring remittances into the local economy, personal relationships with local sex workers reinforce their ideas of Asia’s rise and Western decline, while simultaneously bolstering their diminished masculinity. Dealing in Desire illuminates Ho Chi Minh City’s sex industry as not just a microcosm of the global economy, but a critical space where dreams and deals are traded.