Pierre-Olivier Gourinchas on Geopolitics and Dollar Dominance
IMF Podcasts
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- Pierre-Olivier Gourinchas on Geopolitics and Dollar Dominance
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Bibliographic details
- Guest: Pierre-Olivier Gourinchas
Episode overview
- Publication date: June 17, 2022
- Presenter: IMF Chief Economist, Pierre-Olivier Gourinchas
- Producers/Hosts: Bruce Edwards (International Monetary Fund) and Rhoda Metcalfe (independent journalist and audio producer)
- Main focus: How fragmentation of the global economy might affect the dominance of the US dollar in the international monetary and financial system
Key themes and analysis
- Geopolitical shocks and systemic shifts
- The war in Ukraine has opened a new chapter in international relations and is likened to an earthquake with an epicenter in Russia and Ukraine, whose seismic waves are impacting economies far and wide.
- The podcast frames the conflict as revealing a shift in the underlying geopolitical tectonic plates.
- Implications for the international monetary and financial system
- Geopolitical tensions and the rise of emerging market economies may lead countries to rethink their accumulation of US dollar reserves.
- Discussion centers on what fragmentation of the global economy might mean for the dominance of the US dollar.
Notable observations and statements
- Quote-style observations drawn from the episode:
- The war in Ukraine and the rise of emerging market economies have opened a new chapter in international relations.
- Like an earthquake, the war has an epicenter, located in Russia and Ukraine, but its seismic waves are impacting economies far and wide and revealing a shift in the underlying geopolitical tectonic plates.
- Geopolitical tensions and the rise of emerging market economies may lead countries to rethink their accumulation of US dollar reserves.
Additional materials referenced
- A transcript of the episode is available.
- A related Finance & Development (F&D) article is mentioned.