The Fall of the Dollar Order: The World the United States Is Losing
1995; Council on Foreign Relations; Volume: 74; Issue: 4 Linguagem: Inglês
10.2307/20047205
ISSN2327-7793
Autores Tópico(s)European Monetary and Fiscal Policies
ResumoA sailor embracing his girl in Times Square amid cheering throngs may be the dominant image of America's victory in World War II. Today Times Square is full again, but this time with foreign tourists, who crowd into New York and other American cities, eagerly hunting bargains with their ever-strengthening currencies. During the first quarter of 1995, the dollar plummeted to record lows against the Japanese yen and German mark. A cheaper dollar has brought tourist income to the United States, set ting off a boom in the service sector. Yet at the same time the declining dollar has made American manufactures more
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