The impact of world economic crisis on global currency war
The article examines how the deepening of the world economic crisis impacts global financial flows and performance of international financial institutions, with focus on two issues: 1) did the decrease of the Euro means the beginning of the global currency war?; 2) is there any sort of bank...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Institute of International Politics and Economics, Belgrade
2015-01-01
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| Series: | Međunarodni Problemi |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0025-8555/2015/0025-85551504391P.pdf |
| Summary: | The article examines how the deepening of the world economic crisis impacts
global financial flows and performance of international financial
institutions, with focus on two issues: 1) did the decrease of the Euro means
the beginning of the global currency war?; 2) is there any sort of banksʼ
“conspiracy” in the world gold market? Long-term financial crisis demands a
decisive reform measure to mend the functioning and structure of the IMF,
World Bank Group and other global and regional financial institutions. This
means that the outcome of their policies has been inadequate, so far, and
that their role is subjected to a critical observation in finding an
efficient performance of financial markets. Beijing is becoming more generous
lender for a large number of the low-performing countries, offering them the
significant support in Yuans due to Chinese geopolitical interests. China and
Russia in the field of economic development are strongly complemented: the
scope of cooperation is very broad, and there is a strong potential for the
establishment of other world currencies, which would suppress the U.S. dollar
as the dominant currency in global commodity and financial transactions. The
authors conclude that the struggle to increase the competitiveness of the
national state, at the expense of others, continues in the era of the deepest
global financial crisis. [Projekat Ministarstva nauke Republike Srbije,
br. OI179023: Srbija u savremenim međunarodnim integrativnim procesima -
spoljnopolitički, međunarodni, ekonomski, pravni i bezbednosni aspekti] |
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| ISSN: | 0025-8555 2406-0690 |