Prof. Schlevogt’s Compass No. 39: The exorbitant privilege trap – How dollar power ensnares America
The dollar’s reserve status yields leverage – at hidden cost. An economic reckoning reveals the trade-offs embedded in monetary dominance. In some corners of the political imagination, the dollar has become a grand theory of everything – not a currency, but a convenient, catch-all, virtually cosmic culprit. Every sanction, every covert operation, every warship dispatched […]
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