EVENTS

Abstract      

Experts no longer dispute “currency war” has become a popular term in the international political economy discourse. It is also widely accepted that currency wars are related to a country’s national interest. The defining feature of the world politics during the post-war era has been the success of the U.S. in managing the dollar hegemony – its core national interest. In order to achieve its currency dominance, successive White House administrations have resorted to measures such as military, financial manipulation, divide-and-rule politics, etc. In China, a flood of literature is now available on the history of how the U.S. has been manipulating its currency domination. Yet, following the recent rise and growing internationalization of the Chinese Yuan (RMB) – viewed as potential threat to the dollar hegemony by the U.S. –  scholars and policy makers in the P R China are aspiring for a world economic and financial order less dominated by the United States. On the other hand, the U.S. strategic affairs experts and the Pentagon officials have called it the Chinese Dream to become a ‘revisionist power’. However, the emerging political discourse in both Washington and in Beijing has eluded no one in the outside world, if Yuan continues to expand in the international arena, and which it is most certainly going to do, it could mean the U.S.-China currency war is likely to become extremely harsh and ugly.

About the Speaker

Hemant Adlakha is Associate Professor and Chairperson, Centre for Chinese and Southeast Asian Studies, School of Language, Literature and Culture Studies, Jawaharlal Nehru University. He is also Honorary Fellow, the Institute for Chinese Studies, Delhi. His research on China includes domestic political discourse, foreign policy, language and literature, and cinema.