The politics of reactive currency statecraft -- The rise of the "people's currency" -- The United Kingdom: a passionate advocate -- Japan: a diplomatic user of the renminbi -- South Korea: a late but active accommodator -- The United States: a confident hegemon.

The international statuses of currencies shape a fundamental characteristic of the international monetary system, which has significant impacts on the world political economy by affecting the political as well as economic relationships among states. The study of international currencies has been...