The US Dollar and Global Hegemony

This book explains how the United States has been able to use its currency as a fundamental component of the projection of US hegemony globally. It traces the origins of US hegemony from the planning conducted by the Council on Foreign Relations in the late 1930s to the implementation of strategies for US dominance at the Bretton Woods conference of 1944, where the US dollar was installed as the world's reserve currency. The book demonstrates how the US dollar's reserve currency status underpinned the economic primacy and power of the United States in the post-war period. It highlights the importance of the 1974 deal between the United States and Saudi Arabia to exchange US dollars for Saudi oil. It also examines the debate about the future of the US dollar's status within the global financial system.

Vij Books
  • Pages: 116
  • 9788194261803 • PAPERBACK • Nov 2019 • Rs.495
  • 9788194261810 • EBOOK • Dec 2019 • Rs.495
  • Subjects:
  • The US Dollar and Global Hegemony
author details

Drew Cottle is a senior lecturer in International Relations and Politics at Western Sydney University. He has written extensively on international political economy and revolutionary struggles in the Third World. His book, The Brisbane Line: A Re-Appraisal was a study of potential collaboration in Australia prior to the Pacific War.

Thomas Costigan is currently completing a PhD in the School of Humanities and Communication Arts at Western Sydney University in Australia.

List of Acronyms
Chapter One: Pre-War US Capitalism (Pre-1939, The Internationalisation of US Capitalism World War I, US Diplomacy Leads)
Chapter Two: The ‘Grand Area’ and US Dollar Hegemony (The Council on Foreign Relations, The War and Peace Studies Group, The Grand Area, Lend-Lease, Bretton Woods, The Marshall Plan)
Chapter Three: Global Fracture (The 1956 Suez Crisis, French Dollar Frustration, The US Dollar, Saudi Arabia and Oil)
Chapter Four: The Relative Decline of US Hegemony (Neoliberalism, The Federal Reserve Board, The Euro, The Collapse of the USSR and the Emergence of Rouble Nationalism, BRICS)
Chapter Five: The US Dollar: the Cleanest Dirty Shirt in the Hamper? (Arguments against US Dollar Collapse, Arguments for US Dollar Replacement)