What is the future of the US dollar as an international currency? The essays collected in this volume comment on critical issues that will influence the outlook for America's greenback. The first two chapters address the emergence of the euro as a potential rival for the dollar. Contrary to popular expectations, Benjamin Cohen argues that the euro is destined to remain a distant second to the greenback. Neither market forces nor European policies are likely to lead to widespread use of the euro outside the immediate European region.

The next three chapters address the issues of dollarization and currency union. Should the US encourage foreign governments to replace their currencies with the greenback? Should the US encourage a monetary union with Canada? An assessment of costs and benefits, Cohen contends, suggests that neither option would be in America's national interest.

Cohen also explains why dollarization is no longer under active consideration in Washington. The final chapter addresses America's deteriorating balance of payments. More than anything else, the growth of America's Super Debt could seriously jeopardize the dollar's present dominance in world finance.

Treasury Management Magazine, Global Economic Trends, Agricultural Markets, Economic Integration, World Trade Organization, WTO, Negotiating Strategies, Non-agricultural Market, Multilateral Liberalization, Balance of Payments, BOP.