For decades, the U.S. dollar has been the world’s go-to currency. But as global dynamics shift and new technologies continue to emerge, experts are starting to question whether its dominance could eventually fade.
During a Social Science Matrix panel titled, “The U.S. Dollar Hegemony in Transition,” Economics and Political Science Professor Barry Eichengreen, Economics Professor Chenzi Xu and Haas Finance Professor Rohan Kekre examined the foundations of dollar dominance and what might come next.
The discussion centered around how the dollar continues to hold such a central role due to the many ways it is woven into the global financial system. The panelists explained that even though the U.S. economy makes up a smaller share of the world than it used to, the dollar remains deeply embedded in nearly every corner of the international financial system — from central bank…
