The Future of the Dollar : Has the Unthinkable Become Thinkable? Korkut A. Erturk

As confidence in the dollar subsides around the world, the likely outcome is a gradual fragmentation of the world currency markets: the dollar and other major currencies will cease to be the magnets they have been during the era of financial liberalization. While this outcome makes the US economy increasingly vulnerable, it may prove to be beneficial for developing countries by making it easier for them to stimulate their own internal demand.

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