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Geopolitics and the global economy

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  • Eichengreen, Barry

Abstract

Hyperglobalization is dead, but globalization is very much alive. It is being reshaped by loosening economic and financial links between the United States and China. The extent of their decoupling should not be exaggerated, however. The two economies remain deeply interdependent, and their interdependence is being preserved by a re-routing of trade and investment through third countries. Similarly, it is important not to exaggerate the impact on the international role of the dollar, if for no other reason that for the time being there is no viable alternative.

Suggested Citation

  • Eichengreen, Barry, 2024. "Geopolitics and the global economy," Journal of International Money and Finance, Elsevier, vol. 146(C).
    • Handle: RePEc:eee:jimfin:v:146:y:2024:i:c:s0261560624001116
    DOI: 10.1016/j.jimonfin.2024.103124
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    References listed on IDEAS

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    1. Barry Eichengreen & Arnaud Mehl & Livia Chiţu & Thorsten Beck, 2019. "Mars or Mercury? The geopolitics of international currency choice," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 34(98), pages 315-363.
    2. Eichengreen, Barry, 2012. "Exorbitant Privilege: The Rise and Fall of the Dollar," OUP Catalogue, Oxford University Press, number 9780199642472, Decembrie.
    3. Arslanalp, Serkan & Eichengreen, Barry & Simpson-Bell, Chima, 2022. "The stealth erosion of dollar dominance and the rise of nontraditional reserve currencies," Journal of International Economics, Elsevier, vol. 138(C).
    4. Mr. Serkan Arslanalp & Mr. Barry J. Eichengreen & Chima Simpson-Bell, 2022. "The Stealth Erosion of Dollar Dominance: Active Diversifiers and the Rise of Nontraditional Reserve Currencies," IMF Working Papers 2022/058, International Monetary Fund.
    5. Sharat Ganapati & Woan Foong Wong, 2023. "How Far Goods Travel: Global Transport and Supply Chains from 1965–2020," Journal of Economic Perspectives, American Economic Association, vol. 37(3), pages 3-30, Summer.
    6. Arslanalp, Serkan & Eichengreen, Barry & Simpson-Bell, Chima, 2023. "Gold as international reserves: A barbarous relic no more?," Journal of International Economics, Elsevier, vol. 145(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Geopolitics; Globalization; Fragmentation;
    All these keywords.

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • P00 - Political Economy and Comparative Economic Systems - - General - - - General

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    Access and download statistics

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