Classic Triffin’s dilemma
A country whose currency is the world’s reserve currency must supply its money to the world to use, usually by runnng persistent trade and current account deficits
Eventually, reserve currency status and well-being of citizens and government eventually come into direct conflict.
“A country whose currency is the world’s reserve currency must supply its money to the world to use, usually by runnng persistent trade and current account deficits
Eventually, reserve currency status and well-being of citizens and government eventually come into direct conflict.”
Worth adding to the list of reasons for “the fall of Greece” and “the fall of Rome.”