Dr. Dufey began his talk by laying the context for the currency competition between the USA and China. He commented that the US tends to weaponize the role of the US dollar (USD) against its enemies as well as allies by restricting access to the international financial system based on the USD. No international bank can do business without having efficient access to the dollar. The issue of the international role of the three currencies—USD, the Euro, and Renminbi (RMB)—have become more complicated with the rise of China.
A copy of the event report can be downloaded HERE.
A copy of the slides can be downloaded HERE.