Znaczenie najważniejszych walut w gospodarce światowej a współczesne problemy ekonomiczne
The importance of major currencies in the world economy versus contemporary economic problems

Summary/Abstract: The aim of the study is to evaluate the role of major currencies in the world economy based on their functions. The paper consists of three parts. The first one identifies the main factors determining the role of particular currencies. The second part describes the role of major currencies and the third part presents the problem of global imbalances which are reflected as a high level of current account deficit in the United States. The conclusions of the analysis indicate that the international monetary system needs to be improved. There is still the dominant role of the dollar, which, however, weakened in favor of other currencies. Chinese yuan has the best opportunity among the emerging markets currencies to become a widely used international currency. The potential of the Chinese yuan derives from China's economic size, macroeconomic stability, diversified structure of trade, as well as from the high rate of economic growth.

• Details
• Contents