Foreign Affairs Anthology Series

A New Financial Geopolitics?

The U.S.-Led Monetary Order in a Time of Turbulence

7 Articles

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Table of Contents

Finance Jan 22, 2018 Snapshot

Introduction

After the election of Donald Trump to the presidency, there were wide expectations that the market would respond negatively to his unexpected victory. And yet stock...

Mark Blyth and Sylvia Maxfield

Finance Dec 6, 2017 Snapshot

Bring Politics Back to Monetary Policy

Decades of appeals to technocratic exceptionalism—the idea that monetary policy should be shielded from democratic oversight—have led to the very politicization of...

Jacqueline Best

Federal Reserve Chair Janet Yellen testifies at the Senate Banking, Housing, and Urban Affairs Committee, February 2014.

Economics Dec 22, 2017 Snapshot

Trump and the Bond Market

Donald Trump’s election made investors justifiably nervous. But a mass exodus from the U.S. Treasuries market is unlikely.

Sandy Brian Hager

U.S. President Donald Trump and Treasury Secretary Steven Mnuchin at the Treasury Department in Washington, April 2017.

Finance Jan 12, 2018 Snapshot

The Euro in Decline?

The populist forces that have emerged throughout the continent challenge the legitimacy of the euro and threaten both the institutional and ideational foundations upon...

Kathleen R. McNamara

Monetary Issues Jan 11, 2018 Snapshot

How the Eurozone Might Split

For reasons of both long-term sustainability and short-term politics, the euro is not out of the woods yet.

Mark Blyth and Simon Tilford

Euro coins on display in Zenica, Bosnia and Herzegovina, June 2015.

Finance Jan 1, 2018 Snapshot

Can China Internationalize the RMB?

The recent history of how the Japanese yen tried and failed to become the dominant international currency provides a good illustration of the challenges faced by China...

Saori N. Katada

A woman holds 100-RMB notes at the Bank of China tower in Hong Kong, February 2016.

Economics Dec 19, 2017 Snapshot

China and the International Monetary System

China's interest in the IMF's Special Drawing Right says more about the country's national identity than about Beijing's interest in challenging the dollar-led...

Hongying Wang

Chinese banknotes in Beijing, July 2011.

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