McKinsey on Currency
Yesterday, McKinsey & Co published several excellent articles on currency on their What Matters site. Jeffrey Garten’s piece Toward a Post-Dollar World is particularly insightful. Here, Garten argues that the end of the Dollar’s reign is not a question of if but when and calls for a proactive approach by government, the corporate sector and academia to consider alternatives and make purposeful decisions. The big question for all of us, he argues, is the same as the one posed in New Currency: “what kind of monetary system will best serve the world given deep-seated changes in the balance of economic power, and what process can be followed to develop it?”
“There is a huge research agenda for universities and think tanks,” says Garten. “A world in which the dollar has lost a good deal of its strength will have profound impact on geopolitics, the global economy, and global trade and finance. It will mark the end of the American Empire and usher in something as yet undefined. Little thinking has been done on what all this will mean, and how it is best handled. It’s time that changed.” We couldn’t agree more.
Economic Transformation, Global Finance, New Currency | admin | 
December 18, 2009 11:20 am
