Will Trump’s Trade Policies Displace The Dollar?

Back in 1965, Valéry Giscard d’Estaing, then France’s minister of finance, famously called the benefits that the United States reaped from the dollar’s role as the world’s main reserve currency an “exorbitant privilege.” The benefits are diminishing with the rise of the euro and China’s renminbi as competing reserve currencies. And now President Donald Trump’s…
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