Commentary
Michael Pettis
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REQUIRED IMAGE
In The Media
The High Price of Dollar Dominance
The answer to Lula’s question of who designated the U.S. dollar the global reserve currency is ironic: it was surplus countries such as Brazil and China. And despite what their leaders might say, none of them are in a hurry to upend the current system.
Published on Jun 30, 2023
About the Author
Michael Pettis
Nonresident Senior Fellow, Carnegie China
Michael Pettis is a nonresident senior fellow at the Carnegie Endowment for International Peace. An expert on China’s economy, Pettis is professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets.
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Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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