Paolo Tasca for PS On Point: The Struggle for Currency Supremacy

Don't miss a new PS Big Picture, The Immigration Tinderbox, with Alison L. LaCroix, Federico Fubini, Nancy Qian, and more [View this message in a web browser]( [PS On Point]( MARCH 29, 2024 New techno-powered alternative currencies should not be seen as decisive challenges to the US dollar. Instead, writes Paolo Tasca of University College London, they are best understood as pawns in an older game of strategic dominance for which there is no end in sight. [Read more]( [PS Introductory Offer. Save 30% on your first year.]( [PS Longer Reads: The Struggle for Currency Supremacy]( [The Struggle for Currency Supremacy]( By Paolo Tasca The question of whether the US dollar will be dethroned by a cryptocurrency, a stablecoin, or some other digital asset or payments system ultimately misses the point. What really matters is the mix of possible alternatives that today's evolving financial landscape will offer to governments pursuing a geopolitical advantage. [Read more]( [PS Big Picture: The Immigration Tinderbox]( [The Immigration Tinderbox]( with Alison L. LaCroix, Soňa Muzikárová, Anne O. Krueger, and more In the United States and Europe, immigration tends to divide people into opposing camps: those who claim that newcomers undermine economic opportunity and security for locals, and those who argue that welcoming migrants and refugees is a moral and economic imperative. How should one make sense of a debate that is often based on motivated reasoning, with emotion and underlying biases affecting the selection and interpretation of evidence? [Read more]( [PS Longer Reads: The Indian Giant Has Arrived]( [The Indian Giant Has Arrived]( By Mohamed A. El-Erian and Michael Spence With India's development continuing to gain steam, one of the biggest challenges will be to avoid the mistake that others have made when they failed to recognize their newly acquired global systemic influence and adapt accordingly. Both China and Big Tech show that it is never too early to start managing one's own rise. [Read more]( [PS. To access the new issue of PS Quarterly, subscribe to Premium now.]( [Facebook]( [Twitter]( [LinkedIn]( Project Syndicate publishes and provides, on a not-for-profit basis, original commentary by the world's leading thinkers to more than 500 media outlets in over 150 countries. Receipt of this newsletter does not guarantee rights to re-publish any of its content. This newsletter is a service of [Project Syndicate](. [Change your newsletter preferences](. Follow us on [Facebook]( [Twitter]( and [YouTube](. © Project Syndicate, all rights reserved. [Unsubscribe from all newsletters](.