Читать книгу Financial Cold War. A View of Sino-US Relations from the Financial Markets онлайн

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The change in US circumstances was something that Jacob Viner actually foresaw in a July 1943 letter to Keynes, in which he wrote: ‘The expectation that the US will be alone or almost alone as a creditor is plausible for the first period’ but ‘Over the long pull … I think that the US is as likely to be short as to be long of foreign short-term funds.ssss1

Keynes’ plan equally reflected British interests. In light of Britain's strained economic circumstances, it was not realistic for sterling to play the central role as a global reserve currency that it had before. However, Keynes was opposed to the idea that another national currency should do so. Beyond the question of national interests, there was simply a fundamental conflict between the role of a national central bank and that of an issuer of a global reserve currency. The global reserve issuer, as an international liquidity provider, would need to take into account financial conditions in all countries around the world, whereas a national central bank's mandate and allegiance are purely domestic.