THE PROBLEM OF THE US MONETARY AND FINANCIAL HEGEMONY IN THE MODERN WORLD: BASIC INSTRUMENTS AND CHANNELS OF INFLUENCE

Abstract

The purpose of the study is to determine the role of the USA dollar in the modern world and consider the monetary and financial instruments used by the United States to maintain its economic and political hegemony, as well as the possible consequences of using these instruments. To achieve this goal, the following tasks were set in the work: to study the economic history of the dominance of the dollar, to determine the impact of monetary policy and financial instruments of the United States on the world economy, to analyze the role of the IMF in maintaining the financial hegemony of the United States. Scientific hypothesis of the study is that the dollar and the financial institutions of the United States are key components of the modern economic world order and substantiate the monetary and financial hegemony of the United States, which consists in the ability of the United States to control the world economy, influence the economic situation in different countries, and implement its geopolitical goals with the help of economic instruments. This article contains an analysis of the US foreign economic policy aimed at the maintaining the primacy of the United States in both the sphere of world monetary and financial relations and in the political dimension. The article provides a summary of the most important events in the economic history of the dollar: the collapse of the Bretton Woods system and the 2008 global financial crisis. Particular attention is paid to the financial instruments of US foreign policy influence, in particular, access to financial markets, investments, as well as the use of the IMF as an instrument for achieving US foreign policy goals. The scientific novelty lies in the approach to US geoeconomics, namely the imposition of the economic dimension on the political one. As a result, it is concluded that the US dollar, the Federal Reserve System and the IMF are indeed the most authoritative and significant components of the existing world economic system, using which the United States acts as a monetary and financial hegemon and has a wide range of tools to control the global financial system.