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The Dollar Hegemony and the U.S.-China Monetary Disputes

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Date Issued:
2012
Abstract/Description:
This thesis analyzes the current disputes between the United States and China over the exchange rate of the Chinese currency renminbi using an International Political Economy (IPE) analysis. Monetary relations are not mere economic affairs, but bear geopolitical implications. Money is power. Money is politics. The pursuit of monetary power is an important part of great power politics. Based on this assertion, the thesis studies past cases of monetary power struggles between the United States and the Great Britain, the Soviet Union, Japan, and the European Union (EU), respectively. The thesis then investigates the dollar's status as the dominant international reserve currency in the current international monetary system, as well as the power that this unique status can generate and provide. The dollar's monetary hegemony has become the main characteristic of the current international monetary system and an important power source for continued U.S. hegemony. The dollar's hegemony and the asymmetrical interdependency between the dollar and the renminbi are the source and the key basis for the recent U.S.-China monetary disagreements. The U.S.-China monetary disputes reflect not only each country's respective domestic interests and perceived benefits, but also the monetary power struggle between the two biggest global economies. Predictions are also entertained for the future monetary relations between the two countries, as well as the geopolitical implications that this relationship may have for the U.S.-China bilateral relationship in coming decades.
Title: The Dollar Hegemony and the U.S.-China Monetary Disputes.
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Name(s): Cao, Xiongwei, Author
Morales, Waltraud, Committee Chair
Sadri, Houman, Committee Member
Li, Quan, Committee Member
, Committee Member
University of Central Florida, Degree Grantor
Type of Resource: text
Date Issued: 2012
Publisher: University of Central Florida
Language(s): English
Abstract/Description: This thesis analyzes the current disputes between the United States and China over the exchange rate of the Chinese currency renminbi using an International Political Economy (IPE) analysis. Monetary relations are not mere economic affairs, but bear geopolitical implications. Money is power. Money is politics. The pursuit of monetary power is an important part of great power politics. Based on this assertion, the thesis studies past cases of monetary power struggles between the United States and the Great Britain, the Soviet Union, Japan, and the European Union (EU), respectively. The thesis then investigates the dollar's status as the dominant international reserve currency in the current international monetary system, as well as the power that this unique status can generate and provide. The dollar's monetary hegemony has become the main characteristic of the current international monetary system and an important power source for continued U.S. hegemony. The dollar's hegemony and the asymmetrical interdependency between the dollar and the renminbi are the source and the key basis for the recent U.S.-China monetary disagreements. The U.S.-China monetary disputes reflect not only each country's respective domestic interests and perceived benefits, but also the monetary power struggle between the two biggest global economies. Predictions are also entertained for the future monetary relations between the two countries, as well as the geopolitical implications that this relationship may have for the U.S.-China bilateral relationship in coming decades.
Identifier: CFE0004321 (IID), ucf:49470 (fedora)
Note(s): 2012-05-01
M.A.
Sciences, Political Science
Masters
This record was generated from author submitted information.
Subject(s): dollar hegemony -- IPE -- China -- renminbi -- currency -- exchange rate -- power struggle -- US-China relations
Persistent Link to This Record: http://purl.flvc.org/ucf/fd/CFE0004321
Restrictions on Access: public 2012-05-15
Host Institution: UCF

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