China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...

Cover -- Contents -- Preface -- 1. Introduction: The Unloved Dollar Standard -- PART I. The International Money Machine -- 2. The U.S. Dollar's Facilitating Role as International Money Today -- 3. The Dollar as a Worldwide Nominal Anchor: Insular U.S. Monetary Policy from 1945 to the Late 1960s...