The US Dollar is the world\'s indispensable currency.
If the United States wishes to preserve the potency of Financial Sanctions and protect the dollar\'s dominant position in the world economy, Bucking the Buck argues that Washington\'s approach to Sanctions use should become more discerning..
Most notably, the use of Sanctions may, over time, weaken their effectiveness as US adversaries develop systems and methods to minimize costs associated with such measures.
Though Mcdowell does not conclude that Sanctions threaten the dollar\'s status as the world\'s key currency, the potential consequences of Sanctions overuse remain important.
In some cases, the anticipation of future Sanctions may provoke similar policy measures.
Patterns of de-dollarization following Sanctions are clear.
Though some anti-Dollar policies fail to achieve this goal, McDowell\'s analysis indicates that in many cases they are successful.
Through a combination of case studies and statistical analysis, the book establishes a relationship between US Financial Sanctions and the rise of anti-Dollar policies, which are designed to reduce an economy\'s reliance on the US currency.
Bucking the Buck argues that the more the United States wields the Dollar as a weapon of foreign policy, the more its adversaries will move their International economic activities into other currencies to avoid Washington\'s coercive reach.
Over the last twenty years, Washington has relied on Financial Sanctions with greater and greater frequency.
The dollar\'s preeminent status gives the United States enormous coercive powers which it flexes in the form of Financial Sanctions to punish its adversaries.
The US Dollar is the world\'s indispensable currency
