Читать книгу Financial Cold War. A View of Sino-US Relations from the Financial Markets онлайн
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19 ssss1 (Ferguson, 2020).
20 ssss1 (Brands, 2020).
21 ssss1 (Klein & Pettis, 2020, p. 96).
22 ssss1 (Sargent, 2011).
23 ssss1 (Blackwill & Harris, 2016, p. 49).
24 ssss1 See (Steil, 2013) and (Klein & Pettis, 2020, pp. 19–23).
25 ssss1 (Steil & Litan, 2006, pp. 2–3).
PART ONE THE COLOUR OF MONEY TURNS GREENChapter 2 How the US Dollar Took Over the World
Dollar bills have absolutely no value except in our collective imagination, but everyone believes in the dollar bill.
– Yuval Noah Harari
If we were to imagine the global economy as a human body, then you could say that America controls its circulatory system. Flowing through the arteries and veins of the global financial system are US dollars, which serve as the primary means of exchange in international trade and investment, and as a universally recognised store of economic value. The dollar was used for around 39 percent of all global payments and dollar-denominated securities (largely in the form of US Treasuries) made up roughly 60 percent of global foreign exchange reserves in 2020,ssss1 far exceeding America's share of either world trade (11 percentssss1) or nominal global GDP (24 percentssss1). In other words, the US currency plays a role in the world that stretches way beyond US borders and has, in effect, become a global utility.