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    <title>Vers la fin de l&#039;hégémonie du dollar ? | Cairn.info</title>
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                            <entry>
    <id>tag:cairn.info,2005:article:LECO_087_0048</id>
    <title type="html"><![CDATA[
        Sortir de la suprématie du dollar |
        Le multilatéralisme dans la tourmente
                    | L&#039;Économie politique
            (2020/3 N° 87)
            ]]></title>
        <link href="https://shs.cairn.info/revue-l-economie-politique-2020-3-page-48?lang=fr" type="text/html" rel="alternate" />
    <published>2020-07-07T00:00:00+02:00</published>
    <updated>2025-05-16T12:07:34+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:EHLM_501_0031</id>
    <title type="html"><![CDATA[
        L’e-euro, une étape vers une réforme monétaire internationale |
        La politique monétaire, rempart de l'économie mondiale
                    | L&#039;ENA hors les murs
            (2020/5 N° 501)
            ]]></title>
        <link href="https://shs.cairn.info/revue-l-ena-hors-les-murs-2020-5-page-31?lang=fr" type="text/html" rel="alternate" />
    <published>2020-03-23T00:00:00+01:00</published>
    <updated>2025-05-16T12:07:06+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:LECO_102_0043</id>
    <title type="html"><![CDATA[
        L’euro peut-il encore devenir une devise internationale clé&#160;? |
        La fin du dollar roi&#160;?
                    | L&#039;Économie politique
            (2024/2 N° 102)
            ]]></title>
        <link href="https://shs.cairn.info/revue-l-economie-politique-2024-2-page-43?lang=fr" type="text/html" rel="alternate" />
    <published>2024-05-02T00:00:00+02:00</published>
    <updated>2025-05-16T12:05:53+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ECOFI_149_0153</id>
    <title type="html"><![CDATA[
        Comment les <i>stablecoins</i> et les MNBC peuvent rebattre les
cartes dans les services financiers et les paiements |
        Les monnaies numériques et les cryptoactifs
                    | Revue d&#039;économie financière
            (2023/1 N° 149)
            ]]></title>
        <link href="https://shs.cairn.info/revue-d-economie-financiere-2023-1-page-153?lang=fr" type="text/html" rel="alternate" />
    <published>2023-03-30T00:00:00+02:00</published>
    <updated>2025-05-16T12:05:01+02:00</updated>
            <summary type="html"><![CDATA[Blockchain technology makes possible a new economy, which is called
a “tokenized economy”, with digital assets of a new type. But the
tokenized world still lacks maturity in its technological, legal,
and regulatory aspects, as well as in its uses, and still has many
challenges: cybersecurity, data sharing and protection, the
technological issues of interoperability and scalability, the
temptation of some public and private players to extensively
recentralize, global systemic impacts (financial, environmental,
and social), the need for education and to support the development
of skills. While the field of application for blockchains is very
broad, they have initially been used in financial services and
payments, where decentralized technologies seem to have strong
potential. Banks have a big role to play in shaping the foundations
of this new economy. They are legitimate and can provide security,
trust, and interoperability between new and traditional solutions
for it. Despite the lack of regulatory clarity and technological
maturity, they need to start experimenting and stepping up because
for them, as for the other economic players, doing nothing is not
an option.Classification JEL: E42, G21, O33.]]></summary>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ECOFI_149_0091</id>
    <title type="html"><![CDATA[
        Monnaies numériques de banque centrale&#160;: une mise en
perspective des&#160;travaux à travers le monde |
        Les monnaies numériques et les cryptoactifs
                    | Revue d&#039;économie financière
            (2023/1 N° 149)
            ]]></title>
        <link href="https://shs.cairn.info/revue-d-economie-financiere-2023-1-page-91?lang=fr" type="text/html" rel="alternate" />
    <published>2023-03-30T00:00:00+02:00</published>
    <updated>2025-05-16T12:04:47+02:00</updated>
            <summary type="html"><![CDATA[The number of discussions and studies regarding the creation of
central bank digital currencies (CBDC) has exploded in recent years
as the economy has become digitalized and the use of cash for
transactions has declined, but also as crypto-assets have emerged
and financial assets have been tokenized. This article historically
and geographically reviews central bank digital currency studies
throughout the world. The historical review shows that initially,
some central banks focused on retail CBDC (targeting the general
public), while other central banks focused on wholesale CBDC.
Facebook's announcement about its Libra project shifted the focus
to retail CBDC. However, more recently, there has been renewed
interest in studying wholesale CBDC. The geographical review shows
that 90&#160;% of central banks are currently studying CBDC. A
(necessarily selective) survey of these studies reveals the
diversity of the motivations, contexts, and approaches behind them,
but also a consensus on a number of founding
principles.Classification JEL: E42, E58.]]></summary>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DEC_CEPII_2021_01_0103</id>
    <title type="html"><![CDATA[
        VII/&#160;Les cryptomonnaies en plein essor&#160;: les&#160;banques
centrales lèvent leurs boucliers&#160;! |
        L’économie mondiale 2022
                    (2021)
            ]]></title>
        <link href="https://shs.cairn.info/l-economie-mondiale-2022--9782348069840-page-103?lang=fr" type="text/html" rel="alternate" />
    <published>2021-08-02T00:00:00+02:00</published>
    <updated>2025-05-16T12:04:33+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ECOFI_144_0203</id>
    <title type="html"><![CDATA[
        La souveraineté de la monnaie et ses transformations
historiques&#160;: l'invention de la monnaie digitale de banque
centrale au XXI<sup>e</sup>&#160;siècle et ses conséquences
géopolitiques |
        Les nouvelles doctrines des banques centrales
                    | Revue d&#039;économie financière
            (2021/4 N° 144)
            ]]></title>
        <link href="https://shs.cairn.info/revue-d-economie-financiere-2021-4-page-203?lang=fr" type="text/html" rel="alternate" />
    <published>2022-03-15T00:00:00+01:00</published>
    <updated>2025-05-16T12:04:26+02:00</updated>
            <summary type="html"><![CDATA[The emergence of digital technologies threatens the sovereignty of
money by opening up payment systems to non-bank players, the
Bigtechs. These derive enormous rents from their monopolization of
e-commerce platforms, including through the capture of consumer
data. In the absence of any regulation, they exercise unfair
competition vis-à-vis banks. Facebook's Libra project – now
seemingly being sold - , purporting to establish a global currency
under the control of a private monopoly, has caught the attention
of monetary authorities and financial regulators. Apart from
establishing regulations to restore competition in payment
services, the assertion of monetary sovereignty within nations is
leading to the emergence of central bank digital currency. This
innovation appears at different speeds depending on the country. It
comes in parallel to the disappearance of cash. In many countries
by now, including China, provisions are made in the organization of
payments to avoid destabilizing commercial banks. The thorniest
problem concerns the transformation of the international monetary
system (IMS). Not a detail, the digital code that identifies
central bank digital currency allows them to retain control of the
cross-border use of the cash they issue. This fundamentally calls
into question the principle of “dominant currency”. A reform of the
IMS will have to follow with two possibilities: an accounting of
the digital codes to establish a global synthetic currency or, more
likely, the promotion of the digital SDR as the ultimate liquidity.
This would, at last, establish monetary multilateralism by making
the IMF the international lender of last resort. Classification
JEL: E40, E50, E52, E58, E60]]></summary>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:OJ_AGLIE_2022_01_0179</id>
    <title type="html"><![CDATA[
        Chapitre 4. La course vers la prochaine génération de monnaie(s) |
        La course à la suprématie monétaire mondiale
                    (2022)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/la-course-a-la-suprematie-monetaire-mondiale--9782415001735-page-179?lang=fr" type="text/html" rel="alternate" />
    <published>2022-04-20T00:00:00+02:00</published>
    <updated>2025-05-16T11:49:38+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:OJ_AGLIE_2022_01_0075</id>
    <title type="html"><![CDATA[
        Chapitre 2. La vision de la Chine pour le système monétaire
international |
        La course à la suprématie monétaire mondiale
                    (2022)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/la-course-a-la-suprematie-monetaire-mondiale--9782415001735-page-75?lang=fr" type="text/html" rel="alternate" />
    <published>2022-04-20T00:00:00+02:00</published>
    <updated>2025-05-16T11:49:31+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:LECO_102_0056</id>
    <title type="html"><![CDATA[
        Le dollar face aux nouvelles monnaies numériques |
        La fin du dollar roi&#160;?
                    | L&#039;Économie politique
            (2024/2 N° 102)
            ]]></title>
        <link href="https://shs.cairn.info/revue-l-economie-politique-2024-2-page-56?lang=fr" type="text/html" rel="alternate" />
    <published>2024-05-02T00:00:00+02:00</published>
    <updated>2025-05-16T11:49:23+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:LECO_102_0019</id>
    <title type="html"><![CDATA[
        Les Brics entre le dollar et le renminbi |
        La fin du dollar roi&#160;?
                    | L&#039;Économie politique
            (2024/2 N° 102)
            ]]></title>
        <link href="https://shs.cairn.info/revue-l-economie-politique-2024-2-page-19?lang=fr" type="text/html" rel="alternate" />
    <published>2024-05-02T00:00:00+02:00</published>
    <updated>2025-05-16T11:49:17+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:EPAS_FERNA_2024_01_0683</id>
    <title type="html"><![CDATA[
        L’économie mondiale entre dollarisation et yuanisation |
        Annuaire français de relations internationales
                    (2024)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/annuaire-francais-de-relations-internationales--9782376510673-page-683?lang=fr" type="text/html" rel="alternate" />
    <published>2024-06-06T00:00:00+02:00</published>
    <updated>2025-05-16T11:49:09+02:00</updated>
            <summary type="html"><![CDATA[Dollarization involves the extensive use of the dollar by
non-American economic players (states, firms, banks, households,
etc.). Since the early 2010s, the hegemony of the US currency has
been undermined, for both endogenous and exogenous reasons. The
present dedollarization process only leads to a very partial
yuanization of international trade and international economic and
financial relations. Beijing’s willingness to encourage the use of
the yuan has materialized in different ways: increased use of the
Chinese currency in international trade, massive loans to
developing countries (especially in Africa), establishment of
currency swap systems, launch of independent financial
infrastructures. However, these measures may not be sufficient to
supplant the dollar in the short and medium terms. If a sudden and
fast dedollarization process were to occur, it would certainly be
driven by a major political, economic, or financial crisis in the
United States. The likelihood of such a shock has inexorably
increased for a few years.]]></summary>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ECOFI_145_0129</id>
    <title type="html"><![CDATA[
        Réserves de change&#160;: vers un nouveau normal&#160;? |
        Le système monétaire et financier international aux prises avec de
nouveaux chocs
                    | Revue d&#039;économie financière
            (2022/1 N° 145)
            ]]></title>
        <link href="https://shs.cairn.info/revue-d-economie-financiere-2022-1-page-129?lang=fr" type="text/html" rel="alternate" />
    <published>2022-08-29T00:00:00+02:00</published>
    <updated>2025-05-16T11:48:59+02:00</updated>
            <summary type="html"><![CDATA[In response to the invasion of Ukraine, the assets of the Central
Bank of Russian Federation have been frozen by the US, EU, UK,
Canada, Japan, Australia and Switzerland. This is the first time in
history that action involving all G7 members has been taken against
a central bank of the G20. The reserve freeze highlights the impact
of strategic alliances on a central bank’s ability to mobilize
their reserves. This could be a catalyst for a trend already
underway to diversify portfolio reserves, particularly into
«&#160;non-traditional&#160;» currencies such as the Chinese yuan
but also the Canadian dollar, Korean won and Swiss franc amongst
others. By incorporating a more geopolitical dimension, reserve
accumulation strategies could increase the risks of regionalization
and fragmentation of the International Monetary System. JEL
Classification: E42, E58, F33]]></summary>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DUNOD_MONTB_2023_01_0292</id>
    <title type="html"><![CDATA[
        Où en est-on de la dédollarisation&#160;? |
        Ramses 2024
                    (2023)
            ]]></title>
        <link href="https://shs.cairn.info/ramses-2024--9782100856039-page-292?lang=fr" type="text/html" rel="alternate" />
    <published>2023-09-06T00:00:00+02:00</published>
    <updated>2025-05-16T11:48:22+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DUNOD_BOYER_2023_01_0397</id>
    <title type="html"><![CDATA[
        Chapitre 48. La course à la suprématie monétaire mondiale à l’ère
digitale&#160;: la transformation du système monétaire
international |
        Théorie de la régulation
                    (2023)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/theorie-de-la-regulation--9782100840571-page-397?lang=fr" type="text/html" rel="alternate" />
    <published>2023-09-06T00:00:00+02:00</published>
    <updated>2025-05-16T11:48:12+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DEC_CEPII_2023_01_0073</id>
    <title type="html"><![CDATA[
        V/ Les mutations du système monétaire international |
        L'économie mondiale 2024
                    (2023)
            ]]></title>
        <link href="https://shs.cairn.info/l-economie-mondiale-2024--9782348080074-page-73?lang=fr" type="text/html" rel="alternate" />
    <published>2023-08-01T00:00:00+02:00</published>
    <updated>2025-05-16T11:48:01+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DEC_BURBA_2024_01_0169</id>
    <title type="html"><![CDATA[
        4. La contestation du privilège exorbitant du dollar |
        Chine/États-Unis, le capitalisme contre la mondialisation
                    (2024)
            ]]></title>
        <link href="https://shs.cairn.info/chine-etats-unis-le-capitalisme-contre-la-mondialisation--9782348078347-page-169?lang=fr" type="text/html" rel="alternate" />
    <published>2024-04-18T00:00:00+02:00</published>
    <updated>2025-05-16T11:47:45+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:DEC_AGLIE_2014_01_0007</id>
    <title type="html"><![CDATA[
        I. L'histoire tortueuse du dollar : des origines à la suprématie
dans le système de Bretton Woods et sa destruction |
        Le dollar et le système monétaire international
                    (2014)
            ]]></title>
        <link href="https://shs.cairn.info/le-dollar-et-le-systeme-monetaire-international--9782707169075-page-7?lang=fr" type="text/html" rel="alternate" />
    <published>2014-10-16T00:00:00+02:00</published>
    <updated>2025-05-16T11:47:10+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ARCO_BASTI_2010_01_0094</id>
    <title type="html"><![CDATA[
        Chapitre 3 - Le système de <i>Bretton Woods</i> de 1946 à 1973 |
        Histoire de la globalisation financière
                    (2010)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/histoire-de-la-globalisation-financiere--9782200355388-page-94?lang=fr" type="text/html" rel="alternate" />
    <published>2010-02-24T00:00:00+01:00</published>
    <updated>2025-05-16T11:46:54+02:00</updated>
    </entry>
                                <entry>
    <id>tag:cairn.info,2005:article:ARCO_BASTI_2010_01_0020</id>
    <title type="html"><![CDATA[
        Chapitre 1 - Les systèmes monétaires internationaux au <span class=
"marquage petitecap">xix</span> <sup>e</sup> et au début du
<span class="marquage petitecap">xx</span> <sup>e</sup>&#160;siècle |
        Histoire de la globalisation financière
                    (2010)
            ]]></title>
            <subtitle type="html">
            <![CDATA[]]>
        </subtitle>
        <link href="https://shs.cairn.info/histoire-de-la-globalisation-financiere--9782200355388-page-20?lang=fr" type="text/html" rel="alternate" />
    <published>2010-02-24T00:00:00+01:00</published>
    <updated>2025-05-16T11:46:44+02:00</updated>
    </entry>
            </feed>
