- CGTN Published on Jul 19, 2019
In 1944, the Bretton Woods system was established to replace the gold standard with the U.S. dollar as the global currency. The system ended in 1971 when President Nixon broke the gold peg, but the U.S. dollar remains its global dominance. Over the last 75 years, how has the world changed? What is the Chinese yuan’s role in the global monetary system? And how likely will Facebook’s Libra challenge the U.S. dollar’s dominance?