A Path to a New Reserve Currency (opens in new tab)

The reform of the international monetary system has been a subject of constant debate, reflecting widespread dissatisfaction with the dollar-based and US-controlled arrangements that have prevailed since World War II. The United States is very much attached to its privileged and dominant position, and is unwilling to seriously contemplate any changes to it. The rest of the world is increasingly uneasy with the way the US handles its dominance.