Ny stil Exorbitant Privilege by Barry Eichengreen icKmo1R9

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For more than half a century the dollar has been not just Americas currency but the worlds. It is used globally by importers exporters investors governments and central banks alike. This singular role of the dollar is a source of strength for the United States. It is as a critic of U.S. policies once put it Americas exorbitant privilege. But now with U.S. budget deficits extending as far as the eye can see holding dollars is viewed as a losing proposition. Some say that the dollar m