Open QuestionsUS economist Barry Eichengreen on reality of de-dollarisation and next currency reshuffle
The former IMF adviser examines how de-dollarisation is gaining pace and what lies ahead for China’s yuan
Barry Eichengreen is a leading American economist and one of the world’s foremost experts on international monetary systems. He is a professor of economics and political science at the University of California, Berkeley, where he has taught since 1987. He served as a senior policy adviser at the International Monetary Fund in 1997-98.
Here, he discusses why today’s “de-dollarisation” talk is different from past episodes, how close the world is to a reshuffling of the international monetary system, and what it will really take for the yuan to close the gap.
Since last year, discussions about “de-dollarisation” have resurfaced with renewed intensity. In your view, how much of this reflects a genuine structural shift? And what, if anything, makes the current moment different from previous episodes of dollar scepticism?