Beyond the Dollar

submitted by Marvin's Underground Evening Lectures on 10/12/18 1

Moderator Peter Passell, Senior Fellow, Milken Institute; Editor, the Milken Institute Review Speakers Youssef Boutros-Ghali, Former Minister of Finance, Egypt; Former Chairman, IMF Committee Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley Joaquim Levy, Managing Director and Chief Financial Officer, World Bank Group James McCormack, Global Head of Sovereign and Supranational Ratings, Fitch Ratings Nouriel Roubini, Chairman, Roubini Macro Associates LLC; Professor of Economics, Stern School of Business, New York University For more than 60 years, the U.S. dollar has reigned as the world's dominant international currency, accounting for nearly 90 percent of foreign exchange transactions and the majority of global foreign exchange reserves. However, as the United States' share of global output shrinks, the dollar is facing stronger competition from the euro and the renminbi, and may also be challenged by cryptocurrencies such as bitcoin. Panelists will explore questions such as: Can the dollar maintain its dominant position as rival currencies gain international acceptance? Can the euro expand beyond its role as a regional currency? What is the path for further internationalization of the renminbi? When will bitcoin and other digital currencies have their day?

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