First published 2020
A new currency war has begun, and its effects will reach every corner of the global economy. James Rickards reveals how competitive devaluations between nations create one of the most dangerous scenarios in international finance. The dollar faces systematic weakening while Greece and Ireland require massive bailouts. China manipulates its currency to gain trade advantages. These conflicts operate through a series of strategic devaluations as countries attempt to undercut each other's monetary strength. Rickards combines economic history with network science and sociology to map the threats facing American national security. The European periphery shows signs of potential collapse while failed African states add instability. Chinese neomercantilism and Russian expansion complicate the picture further as nations scramble to acquire gold reserves. Without intervention, this escalating financial conflict could trigger a crisis surpassing the 2008 panic. Rickards draws on his experience in high-level finance and national security to decode the complex political and financial forces at work. He takes readers behind closed doors of international negotiations and around the world to witness firsthand how currency wars unfold.
Genres: international-relations, political-science, economics, non-fiction, 21st-century, finance
Vibes: fast-paced, suspenseful, thought-provoking
Tropes: investigative-journalism
Setting: Africa, China, Europe, Greece, Ireland, Russia, United States
Period: 21st-century
456 pages · Paperback · Independently published