Book Description | In a more contentious world economy, where trade and finance are increasingly interlinked with economic security and geopolitical considerations, questions arise about the underpinnings of the US dollar's global leadership. For decades, the US dollar has reigned supreme, serving as a powerful tool of US foreign policy. However, history shows that currency dominance can shift with global power dynamics. Will China or another power rise to challenge the US-led system? Will the international monetary system experience a process of fragmentation, or will a new global order emerge? Will financial technology ease such a change? This book delves into the intricate web of how three forces – economic dislocation, evolving geopolitical relations and technology – could potentially foster transformations in the international monetary system. Adopting a multidisciplinary lens, it analyses the strategic elements that might compel major international powers to instigate change or solidify the current equilibrium. While there are no definitive answers on the future, the book provides readers with the key tools to understand the major factors influencing possible changes in the international finance system. |
About the Author | Nicola Bilotta is the Coordinator of the EU-Supervisory Digital Finance Academy and Senior Research Associate at the Florence School of Banking and Finance (European University Institute), and an Associate Fellow at the Istituto Affari Internazionali (IAI). Previously, he led the research on digitalisation and global economics as a Senior Fellow at IAI and worked as a Senior Research Analyst at The Banker Research Team (Financial Times) and as a Visiting Fellow at the Centre for Strategic and International Studies. He co-edited the volumes: “The Rise of Tech Giants. A Game Changer in Global Finance and Politics” (2019), “The Near Future of CBDCs. Risks and opportunities for the global economy and society” (Peter Lang, 2021), and “Digitalisation and Geopolitics: Catalytic Forces in the (Future) International Monetary System” (2023). |