Abstract: The US dollar h as long been the dominant currency in the international monetary system\, p roviding great geopolitical advantages to the United States. Today\, many o bservers predict that China's yuan is destined to surpass America's greenba ck\, perhaps even before the end of the present decade. Benjamin Cohen\, ho wever\, disagrees. A look back over the last seventy five years shows that at least three other currencies have\, for a time\, appeared to pose a seri ous challenge to the dollar. These were the Deutsche mark\, the Japanese ye n\, and the euro. Yet in the end\, none succeeded in ending the dollar's su premacy. Detailed historical analysis by Professor Cohen\, based on a struc tured comparative case study approach\, identifies five factors that are mo st critical in determining the international competitiveness of a currency. Today\, only the greenback offers all five elements\, whereas the yuan fal ls far short. The dollar\, Cohen argues\, is fated to remain dominant for t he foreseeable future.
Bio: Benjamin J. Cohen is the Louis G. Lancaster Professor of International Pol itical Economy at the University of California\, Santa Barbara\, where he h as been a member of the Political Science Department since 1991. He was edu cated at Columbia University\, earning a PhD in Economics in 1963. He has w orked as a research economist at the Federal Reserve Bank of New York (1962 -‐1964) and previously taught at Princeton University (1964-‐1971)\, as w ell as the Fletcher School of Law and Diplomacy\, Tufts University (1971-‐ 1991). He has also been a visiting professor at Harvard University\, Univer sity College London\, and the Institute of Political Study (Sciences-‐Po) in Paris. A specialist in the political economy of international money and finance\, he is the author of fifteen books\, including most recently\, Cur rency Politics: Understanding Monetary Rivalry\, published by Princeton Uni versity Press in 2015. He has won numerous awards and in 2000 was named Dis tinguished Scholar of the year by the International Political Economy Secti on of the International Studies Association.
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LOCATION:Room 120\, C.K. Choi Building GEO:49.267258;-123.257967 URL;VALUE=URI:https://sppga.ubc.ca/events/event/talk-can-the-yuan-challenge -the-dollar-for-monetary-supremacy/ END:VEVENT BEGIN:VTIMEZONE TZID:America/Vancouver BEGIN:DAYLIGHT TZOFFSETFROM:-0800 TZOFFSETTO:-0700 DTSTART:20150308T100000 TZNAME:PDT END:DAYLIGHT END:VTIMEZONE END:VCALENDAR