Still the Boss

摘要

The U.S. gets perks from the dollar's lofty status in international trade, starting with the ability to borrow more cheaply. So the dollar has long faced wannabe competitors. The euro was created partly to chip away at its dominance, and China has been pushing for the yuan to be used more widely. Neither currency has dislodged the greenback from its perch. According to data going back to 1989, the dollar hasn't lost any of its share in central banks' foreign currency reserves, in currency trading, or in the cross-border liabilities of banks. Its share of debt issued in foreign currency has grown.