Bucking the Buck US Financial Sanctions and the International Backlash against the Dollar

Bucking the Buck US Financial Sanctions and the International Backlash against the Dollar
- ISBN 13:
9780197679883
- ISBN 10:
0197679889
- Format: Paperback
- Copyright: 03/28/2023
- Publisher: Oxford University Press
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Summary
Though McDowell does not conclude that sanctions threaten the dollar's status as the world's key currency, the potential consequences of sanctions overuse remain important. Most notably, the use of sanctions may, over time, weaken their effectiveness as US adversaries develop systems and methods to minimize costs associated with such measures. If the United States wishes to preserve the potency of financial sanctions and protect the dollar's dominant position in the world economy, Bucking the Buck argues that Washington's approach to sanctions use should become more discerning.