{"product_id":"bucking-the-buck-us-financial-sanctions-and-the-international-backlash-against-the-dollar-9780197679883","title":"Bucking the Buck: US Financial Sanctions and the International Backlash against the Dollar","description":"\u003cp\u003e\u003c\/p\u003e\u003cblockquote\u003eThe US dollar is the world's indispensable currency, giving the United States enormous coercive powers. Bucking the Buck argues that the more the US wields the dollar as a weapon of foreign policy, the more its adversaries will move their international economic activities into other currencies to avoid Washington's coercive reach. \u003c\/blockquote\u003e\u003cp\u003e\u003cstrong\u003eFormat\u003c\/strong\u003e: Paperback \/ softback\u003cbr\u003e\u003cstrong\u003eLength\u003c\/strong\u003e: 256 pages\u003cbr\u003e\u003cstrong\u003ePublication date\u003c\/strong\u003e: 22 June 2023\u003cbr\u003e\u003cstrong\u003ePublisher\u003c\/strong\u003e: Oxford University Press Inc\u003cbr\u003e\u003c\/p\u003e \u003cp\u003e\u003cbr\u003eThe United States dollar holds an indispensable position in the global economy, granting the country immense coercive power through the implementation of financial sanctions. Over the past two decades, Washington has increasingly relied on these sanctions as a tool in its foreign policy arsenal, exerting pressure on adversaries by imposing economic penalties. In his book, \"Bucking the Buck,\" author McDowell argues that the more the United States wields the dollar as a foreign policy weapon, the greater the incentive for adversaries to shift their international economic activities away from the dollar to evade Washington's coercive reach.\u003cbr\u003e\u003cbr\u003eThrough a combination of case studies and statistical analysis, McDowell establishes a relationship between US financial sanctions and the emergence of anti-dollar policies aimed at reducing an economy's dependence on the US currency. While some anti-dollar measures may not achieve their desired outcome, McDowell's analysis suggests that they often succeed in achieving their objective. Patterns of de-dollarization following sanctions are evident, with some countries anticipating future sanctions and taking similar policy measures to mitigate their impact.\u003cbr\u003e\u003cbr\u003eWhile McDowell does not conclude that sanctions pose a direct threat to the dollar's status as the world's key currency, the potential consequences of overuse remain significant. The repeated use of sanctions may weaken their effectiveness as adversaries develop strategies to minimize the costs associated with these measures. To preserve the potency of financial sanctions and maintain the dollar's dominant position in the global economy, McDowell advocates for a more discerning approach to their use by Washington.\u003cbr\u003e\u003cbr\u003eIn conclusion, the US dollar's preeminent status as the world's currency grants the country immense coercive power, which it leverages through financial sanctions. Over the past two decades, Washington has increasingly relied on these measures to exert pressure on adversaries and shape global economic policies. While some anti-dollar policies may fail to achieve their desired outcome, McDowell's analysis suggests that they often succeed in reducing an economy's reliance on the US currency. However, the potential consequences of overuse of sanctions remain a concern, and a more discerning approach to their use is necessary to preserve their effectiveness and maintain the dollar's dominant position in the global economy.\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eWeight\u003c\/strong\u003e: 366g\u003cbr\u003e\u003cstrong\u003eDimension\u003c\/strong\u003e: 155 x 235 x 18 (mm)\u003cbr\u003e\u003cstrong\u003eISBN-13\u003c\/strong\u003e: 9780197679883\u003c\/p\u003e","brand":"DanielMcDowell","offers":[{"title":"Paperback \/ softback","offer_id":44311962255610,"sku":"9780197679883","price":23.41,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0522\/4297\/2845\/products\/1688137000437_book.jpg?v=1688291996","url":"https:\/\/shulphink.com\/products\/bucking-the-buck-us-financial-sanctions-and-the-international-backlash-against-the-dollar-9780197679883","provider":"Shulph Ink","version":"1.0","type":"link"}