The US dollar has held a very strong position in the global financial marketplace for many years and the reasons for this position become clear when investigating how and why this has happened . The United States is the world 's largest economy , and has been in this position for the past 70 years , since the outbreak of the Second World War , therefore its currency has been able to dominate the financial markets through economic dominance over much smaller nations . The economy of the United States has benefitted enormously from the period after the
Second World War , and through such agreements as the Bretton Woods system , the agreement that set up the monetary system for the western world at the time , the creation of the International Monetary Fund and the World Bank , the dollar was used as the primary currency throughout all these systems and institutions . However times are changing and the position of the dollar as the premier world trading currency may be at an end . Over the past 20 years there have been many emerging threats to the US dollar , and some of these have changed into actual present day threats There are many challenges that have emerged as successors to the green back as king of the world financial system , currencies from other economic powerhouses such as the Middle East and Europe , which are now in a position to fight economically for this position of global leader in world currency markets . The system that led to the creation...
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