Exchange Rates under the East Asian Dollar Standard: Living with Conflicted Virtue

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Subfields: Finance

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Dollar primacy and American power: What's at stake? (2008, background): “9 For discussions of the economic and political origins and maintenance of the contemporary international dollar order, see McKinnon (2005) and Schwartz (2002–3: 333, 343, 345, 348).”
China's Exchange Rate and International Adjustment in Wages, Prices, and Interest Rates: Japan Deja Vu? (2006, unknown): “The ambit of dollar invoiced trade with neighbors in East Asia is now much greater than that with the United States itself (McKinnon and Schnabl 2004a, McKinnon 2005).”
Political determinants of international currencies: What future for the US dollar? (2008, background): “Some believe it will (Bergsten, 2005: 34; McKinnon, 2005: 247), but others have suggested that the possibility should not be overstated.”
One Currency, Two Markets: The Renminbi's Growing Influence in Asia-Pacific (2015, unknown): “Before mid-2005, Asian central banks attached very high importance to tracking the US dollar, which is described by McKinnon and Schnabl (2004) and McKinnon (2005) as a “soft pegging to the dollar” regime.”