Our Dollar, Your Problem: Kenneth Rogoff at London Business School

For decades, the U.S. dollar has served as the undisputed anchor of the global financial system - the primary currency for international trade, global assets, and central bank reserves. But as the world enters an era of increasing fragmentation, is that dominance under threat? At a recent Wheeler Institute event, Kenneth Rogoff, Maurits C. Boas Chair of International Economics at Harvard University, sat down with Hélène Rey, Lord Bagri Professor of Economics at London Business School, to discuss the themes of his new book, Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead. The title itself reflects a famous 1971 exchange where the then-U.S. Treasury Secretary John Connally told a group of frustrated international finance ministers, "The dollar is our currency, but it’s your problem". Following opening remarks by Elias Papaioannou, Professor of Economics, Alex Knaster Chair in Economics at LBS and Co-Academic Director of the Wheeler Institute for Business and Development, Kenneth Rogoff opened the evening by setting out the core pillars of his book. He began with a historical overview that framed the broader discussion with Hélène Rey exploring the past, present, and the future of the almighty dollar. Subscribe to our YouTube channel ➤ https://bit.ly/3bukgoT Visit our website ➤ https://bit.ly/3cl5b8m Follow our social media accounts: Twitter: https://bit.ly/3gGs1Kg LinkedIn: https://bit.ly/2TyBfQY Instagram: https://bit.ly/3cLK54D 00:00:00 Introduction & Overview 00:03:26 Our Dollar, Your Problem – The Nixon Shock 00:09:40 Dollar Dominance: The Rise and the Peak 00:17:40 Past Challengers of the Dollar 00:22:58 China’s Housing & Real Estate Issues 00:28:53 Cryptocurrencies & Underground Economy 00:33:00 Dollar’s Decline and Vulnerabilities 00:38:00 Personal Stories in the Book 00:41:46 Greatest Threat to Dollar 00: 51:35 Regulating Cryptocurrencies 00:55:25 Financial Repression and Global Imbalance 01:01:28 Q&A session