Students love good stories. That is why case studies are such a powerful way to engage students while teaching them about concepts fundamental to the study of international relations. Cases in International Relations helps students understand the context of headline events in the international arena. Organized into three main parts—military, economic, and human security—the book's fifteen cases examine enduring and emerging issues from the longstanding Arab-Israeli conflict to the rapidly changing field of cyber-security. Compatible with a variety of theoretical perspectives, the cases consider a dispute's origins, issue development, and resolution so that readers see the underlying dynamics of state behavior and can try their hand at applying theory.
Chapter 10: Global Monetary Reform After 2008
Global Monetary Reform After 2008
The pathway of conflict and cooperation in managing the global monetary system has been a long one that has featured many policy initiatives, and it is one that remains in transition following the 2008 global financial crisis.1 We have passed through a period in which currencies were identified, defined, and, most importantly, had their values determined largely by the policies of national governments. We thought of currencies as operating within national boundaries. Going abroad meant exchanging one's currency for that of the country you were entering. This imagery, while true for most currencies, was not true for all. A select few, such as the U.S. dollar, held a privileged position and could be used internationally with ...