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SUMMARY:'Reforming the Global Reserve System\; Historical Perspectives' - 
 Professor Catherine Schenk\, Economic and Social History\, Glasgow
DTSTART:20100524T160000Z
DTEND:20100524T180000Z
UID:TALK20740@talks.cam.ac.uk
CONTACT:D'Maris Coffman
DESCRIPTION:'Accumulations of large foreign exchange reserves by emerging 
 economies such as China and Russia in the 2000s and the prospect for incre
 ased demand for precautionary reserves after the current global crisis hav
 e renewed interest in how international currencies emerge and how they can
  be replaced without disrupting the global economic system.  The case of s
 terling in the post-war decades provides an opportunity to examine this pr
 ocess.  Although a rapid global switch to the USD was widely predicted aft
 er 1945\, the end of sterling's reserve role was prolonged until the late 
 1970s by the structure of the international monetary system and collective
  global interest in its continuation so that the retirement of sterling as
  a reserve currency was achieved through negotiated management among the d
 eveloped and developing world. This paper reviews the schemes that managed
  the decline and draws some implications  for the dollar's future.'\n\nTho
 se interested in joining us for dinner afterwards should contact the organ
 iser (ddc22) to reserve a place. For more information about the speaker\, 
 click here:\n\nhttp://www.gla.ac.uk/economicsocialhistory/ourstaff/catheri
 neschenk/
LOCATION:Lucia Windsor Room\, Newnham College
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