Can the dollar remain king of currencies?

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Financial Times 16h ago

Can the dollar remain king of currencies? - Financial Times

Quick Summary:

The Bretton Woods agreement thus singled out the dollar as the sun around which the other elements of the postwar international monetary system revolved.

It took the Marshall Plan to provide Europe with the dollars needed to resume international payments and reintegrate its economies into the global order. US leaders had to bypass Congress’s reluctance to join the International Trade Organization by agreeing to establish the General Agreement on Tariffs and Trade.

A prickly personality, White pursued an unrewarding academic career before joining Henry Morgenthau’s Treasury Department in 1934 and rising to assistant to the secretary with full responsibility for Treasury’s participation in all international economic and financial matters related to the second world war.