From a just-published article in International Affairs:
The story of the greenback is, finally, much less about the USA’ power than about the remainder of the world’s weaknesses. Till that disparity adjustments, and seemingly irrespective of how badly the USA performs its playing cards, don’t count on the greenback to say no.
A abstract graph:
Eswar Prasad additionally wrote “The Greenback Lure”, in addition to 2022 Finance & Growth article. Additionally, re: digital currencies and so forth., see “The Way forward for Cash”.