2025-05-05
30 分钟The U.S. dollar has been the world's dominant currency since the middle of the 20th century,
but that long era of supremacy hasn't been without its shocks.
Now, as President Trump has pressed ahead with a slate of aggressive tariffs,
the value of the dollar, so often a safe haven for investors, has slid to multi-year lows.
Is the era of dollar hegemony coming to an end?
Could cryptocurrencies, or perhaps China's yuan, knock the greenback off its perch?
And how would that affect the rest of the world?
This is The Economic Show.
I'm Martin Wolf, EFT's Chief Economics Commentator.
I'm joined today by Ken Rogoff.
who I've known personally since 2001.
Ken is a professor of economics at Harvard University and former chief economist at the International Monetary Fund.
But long before his career as an economist, he was a grandmaster at chess.
Ken is an immensely influential thinker on international monetary and financial economics.
Together with Carmen Reinhart, he wrote This Time is Different.
Eight Centuries of Financial Folly, a seminal book which was published in September 2009.
His latest book is Our Dollar, Your Problem,
and it is on the history of the dollar and what might come next for the currency.
Ken, welcome to the show.
Well, thank you, Martin.