AGENDA: DISCUSSING THE STATUS OF THE US DOLLAR AS A GLOBAL CURRENCY
The G20, established in September 1999 after the Asian financial crisis, is an intergovernmental group aimed at addressing global economic challenges. Initially formed in response to the G7's handling of financial turmoil, the G20 sought to involve middle-income nations and those with economic influence in finding solutions to worldwide economic issues. Decisions made during G20 summits are outlined in communiqués and declarations, shaping global economic governance and policy coordination.
The dollar's status as the primary reserve currency was solidified after WWII at the 1944 Bretton Woods Conference, where countries pegged their currencies to the dollar, backed by gold convertibility. However, its long-term dominance is uncertain as shifts in primary international currencies have historically occurred when a country surpasses the previous leader in economic size and trade volume. The recent US debt ceiling crash crisis has raised concerns, leading to decreased confidence among global investors and prompting countries to diversify their reserve holdings, potentially eroding the dollar's dominance. The rise of the Euro and the Chinese Renminbi, as well as the efforts by BRICS nations to de-dollarize the international economy, further adds to the uncertainty surrounding the future of the dollar's domination as the global reserve currency.
Is Benjamin Franklin's(USD 100 Bill) domination set to end?
The Executive Board
With an unwavering enthusiasm for the power of words, Daniel has actively engaged in various Model United Nations conferences, including the prestigious COMUN and KMUN, where his talents have shone brightly. As an organizing committee member of CJCMUN, he has demonstrated exceptional leadership skills and a commitment to promoting meaningful dialogue among delegates. In Hyderabad's vibrant MUN community, Daniel's presence has left a lasting impact as he fosters an environment of open-mindedness and mutual respect. With his insightful guidance as a Chair, delegates are encouraged to explore diverse perspectives and collaborate constructively. Beyond accolades, Daniel Zachariah is recognized for his humility and genuine dedication to the art of debate.
"In the midst of chaos, there is also opportunity"- Sun Tzu(Art of War)
Recently stepping foot in the world MUNing, Allen plays a manipulative role, deception being at the forefront of his " Diplomacy". While also certainly playing the devil's advocate he approaches situations with various angles creating a well balanced personality making him approachable by all. A guide to first timers, gives him a certain soft corner in committee. Being quite the two faced up and comer he has participated in a plethora of MUNs in both the Bangalore and the Maharashtrian Circuit including BJCMUN, GLCMUN and JGUMUN.
An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today." - Lawrence J Peter
A speaker with an inclination for theatrics and loud speeches, Siddharth is a delegate with appearances in various prestigious MUNs such as CJCMUN, BJCMUN and more. With a passion for economics, he spends his time debating and searching for economic committees.
When not munning, he spends his time jamming out to 80's Bollywood and writing satires. to add your own text and edit me. It's easy.