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The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe

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  3. Vierteljahreshefte zur Arbeits- und Wirtschaftsforschung
  4. Vol. 2, Issue 2
  5. pp. 175–195

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Proaño, C., Hümmrich, M. The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe. Vierteljahreshefte zur Arbeits- und Wirtschaftsforschung, 2(2), 175-195. https://doi.org/10.3790/vaw.2025.1457703
Proaño, Christian R. and Hümmrich, Martin "The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe" Vierteljahreshefte zur Arbeits- und Wirtschaftsforschung 2.2, 2025, 175-195. https://doi.org/10.3790/vaw.2025.1457703
Proaño, Christian R./Hümmrich, Martin (2025): The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe, in: Vierteljahreshefte zur Arbeits- und Wirtschaftsforschung, vol. 2, iss. 2, 175-195, [online] https://doi.org/10.3790/vaw.2025.1457703
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The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe

Proaño, Christian R. | Hümmrich, Martin

Vierteljahreshefte zur Arbeits- und Wirtschaftsforschung, Vol. 2 (2025), Iss. 2 : pp. 175–195

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Publisher Name
Duncker & Humblot
DOI
https://doi.org/10.3790/vaw.2025.1457703
Language
German
Pages
21
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Author Details

Christian R. Proaño, Universität Bamberg

Martin Hümmrich, Universität Bamberg

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Abstract

Die Dominanz des U.S.-Dollars im globalen Finanzsystem ist nach wie vor die Grundsäule des internationalen Handels und der Währungsstabilität, steht aber in einer sich rasch verändernden Welt vor wachsenden Herausforderungen. Historisch verwurzelt durch das Bretton-Woods-System und die Etablierung des Petrodollarsystems prägt der dominante Status des U.S.-Dollars die globalen Finanzsysteme seit Jahrzehnten. Die koordinierten Bemühungen aufstrebender Mächte innerhalb des BRICS+ Staatengemeinschaft und der Aufstieg dezentraler Kryptowährungen beginnen jedoch, seine Vormachtstellung in Frage zu stellen. Diese Entwicklungen haben erhebliche Auswirkungen auf Europa und letztlich auch auf Deutschland, wo die wirtschaftliche Abhängigkeit vom U.S. Dollar Bedenken hinsichtlich der Währungssouveränität und des geopolitischen Einflusses aufkommen lässt. Gleichzeitig eröffnen diese Entwicklungen Chancen für eine stärkere finanzielle Diversifizierung und die Förderung strategischer Autonomie. Die Betrachtung der zentralen Einflussfaktoren für die Dominanz des U.S.-Dollars und der aktuellen Herausforderungen für seine Zukunft bietet wichtige Perspektiven. Sie unterstützt europäische Akteure bei der Entwicklung diplomatischer Strategien, um in einer zunehmend multipolaren und dynamischen Finanzlandschaft adäquat agieren zu können.

Table of Contents

Section Title Page Action Price
Christian R. Proaño / Martin Hümmrich: The U.S. Dollar Dominance: Origins, Status Quo, and Implications for Europe 175
Summary 175
Zusammenfassung 175
1. Introduction 176
2. A Bird’s Eye View on the Origins and Status Quo of the U.S. Dollar Dominance 177
2.1 Origins and Status Quo 177
2.2 The Petrodollar System 181
3. An Emerging Counterpart: The BRICS+ 184
3.1 De-Dollarization 184
3.2 BRICS+: A Unified Monetary Union? 185
3.3 Sovereignty and Independence of the BRICS+ 186
3.4 The Impact of Sanctions in the BRICS+ World 187
4. The Rising Importance of Cryptocurrencies 188
5. Implications for the European Union and Germany 189
References 191

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