The Disadvantages of Sovereign Currency as the World Currency

From the perspective of Marx’s theory functioning international monetary system, there are inherent disadvantages in a sovereign currency acting as world currency. First, existing model single is unfair, with country whose functions able to obtain huge seigniorage and inflation tax. Second, this unstable. The premise behind an means payment strong credit currency-issuing countries, but Triffin problem that issuers face dilemma. Third, duality measure value determines can be only one performing function market, multipolar pattern will lead frictions among countries. Recognizing using has important reference educative significance for achieving correct view digital currency, eSDRs, RMB internationalization.