A Transition to a Multipolar Monetary Order? Trends in Currency Concentration and Internationalization of the US Dollar, the Euro, and the Renminbi

A Transition to a Multipolar Monetary Order? Trends in Currency Concentration and Internationalization of the US Dollar, the Euro, and the Renminbi

International Monetary System

Multipolarity

COVID-19

Fuzzy-logic model

Internationalization

Currency Concentration

Reserve Currencies

The main aim of this study is to verify whether the current internationalmonetary system shows a transposition into a multipolar monetaryarrangement. The study is aimed at analysing the prospects of three keycurrencies (the American dollar, the Euro, the Chinese renminbi) in thecontext of their transposition to a multipolar monetary system. For thesecurrencies, the values of monetary concentration and those of the potentialof monetary internationalization were analysed. We used a new approachfor assessing the measurement potential of currency internationalization:the fuzzy-logic model. This approach includes economic and politicalfactors. The prospects of the selected currencies are examined in this studyin the context of the great economic lockdown. The conclusions confirm theexistence of a trend of transposition into a multipolar monetaryarrangement.

Sadil, Vojtěch

Sipko, Juraj

Czech Journal of International Relations; Vol. 57 No. 1 (2022); 7-42

2788-2993

2788-2985

10.32422/mv-cjir.57.1

Institute of International Relations Prague

2022-03-01

https://creativecommons.org/licenses/by-nd/4.0

application/pdf

application/pdf

eng

info:eu-repo/semantics/article

info:eu-repo/semantics/publishedVersion

Research Articles