Abstract
In this final chapter we apply much of what we have previously learned as we examine several contemporary policy topics. We explore the policy of foreign exchange sterilization, and its contribution to the global imbalances that have built up in the early part of this century. The US dollar-Chinese yuan saga and controversy are explored at length. We discuss the US dollar's role as the world's reserve currency, and the potential challengers to the dollar's dominance. Finally, we explore a topic that has garnered attention in recent years as central banks have taken to increasingly unorthodox experimentation: fiat currency and the gold standard.
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