When Currencies Collapse.

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  • Author(s): Eichengreen, Barry
  • Source:
    Foreign Affairs. Jan/Feb2012, Vol. 91 Issue 1, p117-134. 16p.
  • Additional Information
    • Subject Terms:
      INTERNATIONAL finance; INTERNATIONAL economic relations; MONETARY systems; INTERNATIONAL trade; MONETARY policy; MONEY; EURO; DOLLAR; HISTORY
    • Abstract:
      The article offers information about the collapse of currencies in the international monetary system. It discusses the importance of the euro and dollar in the international system and provides analysis of the history of collapse of the monetary system in the 1930s and the 1970s with a focus on issues such as the gold standard, the Bretton Woods system, and international trade. The article also discusses the potential use of the Chinese yuan and the Swiss franc in the international system. It is suggested that a currency collapse is possible in the world economic system.