Barry Eichengreen is the George C. Pardee and Helen N. Pardee Chair and Distinguished Professor of Economics and Political Science at the University of California, Berkeley, a research associate at the National Bureau of Economic Research, and a research fellow at the Centre for Economic Policy Research. He is the author of Money Beyond Borders: Global Currencies from Croesus to Crypto.
In a self-evident sense, it is not the issuing country but users of an international currency that choose whether to use it or not. But the issuing country can do much to influence that choice positively or negatively. Positively, if the issuer engages in a large volume of cross-border transactions [...]
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