Youtube Exercise » English Grammar Homework

Could the dollar lose its dominance? | The Economist

The Economist

69K views 2 months ago

When you hear the word “dollar,” what do you think of: shopping, banking, or international trade?
What does it mean for a currency to be “dominant” in the world?
Do you think the dollar could lose its dominance? Why or why not?

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1. After the Second World War, why did many investors trust the US dollar?

2. How has the share of global foreign-currency reserves held in US dollars changed from about half a century ago to today?

3. What helped increase investor anxiety about the dollar in the past year mentioned?

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1. Why might the euro seem like a strong contender to the dollar?

It is the only currency used for oil trade
It is backed by Bitcoin reserves
It is backed by a large economy and has a central bank whose independence is guaranteed by treaty
It is controlled directly by one government, making policy faster

2. According to the video, what is one reason the euro has struggled to gain more ground?

The euro is too new to be used in trade
Europe bans foreign investors from buying euro assets
The euro is linked to gold at a fixed price
The Euro zone doesn’t produce enough safe debt and some haven markets are too small

3. Why has progress in internationalizing the Chinese yuan been “halting”?

Because the yuan is only used in Europe
Because China’s economy is too small to support a global currency
Because China has no interest in a bigger role for its currency
Because China controls the movement of capital, creating doubt for investors about getting money out

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1. What does the video suggest is the biggest barrier to quickly replacing the dollar?

2. If the dollar starts to look unsafe, what outcome does the video say is most likely?

3. Which of these is presented as a reason countries want to reduce dependence on the dollar?

Discuss the ideas from this video

Could the dollar lose its dominance? | The Economist

Should the world want one dominant currency, or is a multi-polar system better? Why?
How do “network effects” make it difficult for people and businesses to change currencies? Can you think of similar examples in technology or daily life?
What qualities should a currency have to become a global reserve currency (e.g., stability, trust, open markets)? Which country or region best matches these today?
Do you think digital currencies could realistically play a major global role soon? What would need to change first?