Gita Gopinath on Global Debt: Why the US Dollar Will Remain Unchallenged for 20 Years
Former IMF Chief Economist Gita Gopinath explains why the dollar isn't going anywhere anytime soon. Despite growing talk of de-dollarization, deep US treasury liquidity and international balance sheet habits keep the dollar firmly in charge.
"To replace the US dollar as the world's primary reserve asset, you need an alternative economy that provides equally deep, completely open, and legally predictable sovereign bond markets. Neither the Euro nor the Chinese Renminbi currently offers that institutional combination, which is why the dollar will remain dominant for at least the next twenty years."




