Paul Blustein
@paulblustein.bsky.social
Ex-newspaper guy (WashPost, WSJ) turned book author
Latest book, "King Dollar," on USD dominance
(Yale Univ. Press, pub. date 3/18/25)
Sr. Associate @CSIS.org
Resident of Japan, perpetrator of many gaijin faux pas
www.paulblustein.com
Latest book, "King Dollar," on USD dominance
(Yale Univ. Press, pub. date 3/18/25)
Sr. Associate @CSIS.org
Resident of Japan, perpetrator of many gaijin faux pas
www.paulblustein.com
Pinned
Paul Blustein
@paulblustein.bsky.social
· Jul 20
Kind words, greatly appreciated, from Martin Wolf. I only wish there had been room to mention the dedication: "To my grandchildren, whom I will always love unconditionally, even if they grow up to like crypto."
Still the One? The US dollar, that is—will it remain the world’s dominant currency?
That’s the question I addressed on Nov. 18 at the #FortuneInnovation Forum in Kuala Lumpur, and three days before that on Nov. 15 at another conference in Dubai.
🧵
That’s the question I addressed on Nov. 18 at the #FortuneInnovation Forum in Kuala Lumpur, and three days before that on Nov. 15 at another conference in Dubai.
🧵
November 23, 2025 at 1:28 PM
Still the One? The US dollar, that is—will it remain the world’s dominant currency?
That’s the question I addressed on Nov. 18 at the #FortuneInnovation Forum in Kuala Lumpur, and three days before that on Nov. 15 at another conference in Dubai.
🧵
That’s the question I addressed on Nov. 18 at the #FortuneInnovation Forum in Kuala Lumpur, and three days before that on Nov. 15 at another conference in Dubai.
🧵
Having participated on a panel yesterday in Dubai on “Future Developments in the Global Currency System,” I’ve just arrived in Kuala Lumpur where I’m looking forward to speaking at the #FortuneInnovationForum on Tuesday. I’m getting old, but happy to report that I’m still vertical!
November 16, 2025 at 5:11 PM
Having participated on a panel yesterday in Dubai on “Future Developments in the Global Currency System,” I’ve just arrived in Kuala Lumpur where I’m looking forward to speaking at the #FortuneInnovationForum on Tuesday. I’m getting old, but happy to report that I’m still vertical!
Sincere thanks to the UAE Financial Markets Assn. for inviting me to this conference in Dubai of the Inter-Arab Cambist Association (ICA). The audience seemed amused to hear my book’s dedication: “To my grandchildren, whom I will always love unconditionally, even if they grow up to like crypto.”
November 15, 2025 at 6:04 PM
Sincere thanks to the UAE Financial Markets Assn. for inviting me to this conference in Dubai of the Inter-Arab Cambist Association (ICA). The audience seemed amused to hear my book’s dedication: “To my grandchildren, whom I will always love unconditionally, even if they grow up to like crypto.”
Pregame anthems for this Series should have included not only "O Canada" and "Star Spangled Banner" but "Kimigayo" as well.
November 2, 2025 at 5:51 AM
Pregame anthems for this Series should have included not only "O Canada" and "Star Spangled Banner" but "Kimigayo" as well.
As the lone crypto skeptic on this panel at the APEC CEO Summit in Korea, I relished telling the audience about the dedication of my book KING DOLLAR—“To my grandchildren, whom I will always love unconditionally, even if they grow up to like crypto.”
October 31, 2025 at 12:02 AM
As the lone crypto skeptic on this panel at the APEC CEO Summit in Korea, I relished telling the audience about the dedication of my book KING DOLLAR—“To my grandchildren, whom I will always love unconditionally, even if they grow up to like crypto.”
Reposted by Paul Blustein
Many thanks to @paulblustein.bsky.social for joining the podcast for a great talk about the future of dollar dominance
(not included: our common appreciation of K-Pop Demon Hunters)
www.youtube.com/watch?v=-N2p...
(not included: our common appreciation of K-Pop Demon Hunters)
www.youtube.com/watch?v=-N2p...
The Meaning and Future of Dollar Dominance with Paul Blustein
YouTube video by 地経学研究所 / Institute of Geoeconomics
www.youtube.com
October 30, 2025 at 10:18 PM
Many thanks to @paulblustein.bsky.social for joining the podcast for a great talk about the future of dollar dominance
(not included: our common appreciation of K-Pop Demon Hunters)
www.youtube.com/watch?v=-N2p...
(not included: our common appreciation of K-Pop Demon Hunters)
www.youtube.com/watch?v=-N2p...
If you’re not watching World Series Game 2 on Japanese TV, you’re missing this between-inning introduction to viewers of an exotic Canadian dish in which furaido poteito are topped first with cheezu kahdo and then with gureibi sohsu. C’mon, Taguchi-san, what’s not to like?
October 26, 2025 at 2:04 AM
If you’re not watching World Series Game 2 on Japanese TV, you’re missing this between-inning introduction to viewers of an exotic Canadian dish in which furaido poteito are topped first with cheezu kahdo and then with gureibi sohsu. C’mon, Taguchi-san, what’s not to like?
Wow! The mental gymnastics to rationalize an act of brazen corruption--worthy of Olympic gold!
October 24, 2025 at 2:54 AM
Wow! The mental gymnastics to rationalize an act of brazen corruption--worthy of Olympic gold!
As always, well worth listening to Hyun Song Shin of the BIS, who knows a thing or two about the global financial system:
"You saw a lot of stories [in April 2025] about the dollar possibly losing its international status...in retrospect, that was quite hasty."
podcasts.apple.com/us/podcast/w...
"You saw a lot of stories [in April 2025] about the dollar possibly losing its international status...in retrospect, that was quite hasty."
podcasts.apple.com/us/podcast/w...
Why The World Started Hedging Its US Dollar Exposure
Podcast Episode · Odd Lots · 10/23/2025 · 46m
podcasts.apple.com
October 24, 2025 at 12:25 AM
As always, well worth listening to Hyun Song Shin of the BIS, who knows a thing or two about the global financial system:
"You saw a lot of stories [in April 2025] about the dollar possibly losing its international status...in retrospect, that was quite hasty."
podcasts.apple.com/us/podcast/w...
"You saw a lot of stories [in April 2025] about the dollar possibly losing its international status...in retrospect, that was quite hasty."
podcasts.apple.com/us/podcast/w...
Reposted by Paul Blustein
Suspect that even if many are still putting out research on dedollarisation (Trump’s was the face that launched a thousand sell-side ships), most long-time FX observers agree with Paul here. The direction of travel is negative, but moving very slowly and off a very high base:
Should I throw in the towel? Admit my book KING DOLLAR is way too positive about the USD’s global dominance, given what has happened in Trump’s 2nd term?
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
October 22, 2025 at 11:52 AM
Suspect that even if many are still putting out research on dedollarisation (Trump’s was the face that launched a thousand sell-side ships), most long-time FX observers agree with Paul here. The direction of travel is negative, but moving very slowly and off a very high base:
Should I throw in the towel? Admit my book KING DOLLAR is way too positive about the USD’s global dominance, given what has happened in Trump’s 2nd term?
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
October 22, 2025 at 11:16 AM
Should I throw in the towel? Admit my book KING DOLLAR is way too positive about the USD’s global dominance, given what has happened in Trump’s 2nd term?
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
That’s what @B_Eichengreen suggests in his review, and there are few if any economists I admire more.
(Thread, first posted in the other place)
Reposted by Paul Blustein
It's frustrating and annoying to see someone try to construct a "grand strategy" out of the idea that bilateral trade flows must be equal between the US and all its trading partners (and then for Foreign Affairs to publish it!).
The United States has lost its bet on globalization—and should now embrace a “humbler and more realistic” grand strategy of reciprocity, argues Oren Cass.
A Grand Strategy of Reciprocity
How to build an economic and security order that works for America.
www.foreignaffairs.com
October 17, 2025 at 10:44 PM
It's frustrating and annoying to see someone try to construct a "grand strategy" out of the idea that bilateral trade flows must be equal between the US and all its trading partners (and then for Foreign Affairs to publish it!).
Wow, thanks pal!
(Yes, Rod's a good friend, who lives in the same Japanese town I do. But he teaches quantum computing at one of Japan's top universities, so he knows a thing or two!)
(Yes, Rod's a good friend, who lives in the same Japanese town I do. But he teaches quantum computing at one of Japan's top universities, so he knows a thing or two!)
Finally finished @paulblustein.bsky.social's latest book, and it's a doozy!
Paul writes clearly and authoritatively, not to mention entertainingly. I've read most of his books, and I always learn so much about how the world works. I wish I could carry in my head a fraction of what Paul does.
Paul writes clearly and authoritatively, not to mention entertainingly. I've read most of his books, and I always learn so much about how the world works. I wish I could carry in my head a fraction of what Paul does.
October 11, 2025 at 11:59 AM
Wow, thanks pal!
(Yes, Rod's a good friend, who lives in the same Japanese town I do. But he teaches quantum computing at one of Japan's top universities, so he knows a thing or two!)
(Yes, Rod's a good friend, who lives in the same Japanese town I do. But he teaches quantum computing at one of Japan's top universities, so he knows a thing or two!)
Reposted by Paul Blustein
got some bad news for anyone who voted for Trump because he promised to bring down prices
www.ft.com/content/dd6d...
www.ft.com/content/dd6d...
Donald Trump announces 100% tariff on branded pharmaceutical products
The US president also unveiled levies on heavy trucks, kitchen cabinets and bathroom vanities
www.ft.com
September 26, 2025 at 1:46 AM
got some bad news for anyone who voted for Trump because he promised to bring down prices
www.ft.com/content/dd6d...
www.ft.com/content/dd6d...
Reposted by Paul Blustein
It's true & reflective of Trump's terrible economic policies, but it's also important to zoom out & remember that the level of the exchange rate is still near historic highs over the last two decades, & we've seen large-scale depreciations before that did not signal the end of dollar hegemony.
September 21, 2025 at 8:47 PM
It's true & reflective of Trump's terrible economic policies, but it's also important to zoom out & remember that the level of the exchange rate is still near historic highs over the last two decades, & we've seen large-scale depreciations before that did not signal the end of dollar hegemony.
If the reasoning strikes you as tenuous--or (dare I say) moronic...
September 18, 2025 at 11:17 AM
If the reasoning strikes you as tenuous--or (dare I say) moronic...
Reposted by Paul Blustein
As the author of KING DOLLAR, which @B_Eichengreen would probably deem “Panglossian” for its conclusions, I guess I’d better say why I differ with him here.
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
September 13, 2025 at 8:52 AM
As the author of KING DOLLAR, which @B_Eichengreen would probably deem “Panglossian” for its conclusions, I guess I’d better say why I differ with him here.
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
As the author of KING DOLLAR, which @B_Eichengreen would probably deem “Panglossian” for its conclusions, I guess I’d better say why I differ with him here.
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
September 13, 2025 at 8:52 AM
As the author of KING DOLLAR, which @B_Eichengreen would probably deem “Panglossian” for its conclusions, I guess I’d better say why I differ with him here.
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
(Thread, first posted in the other place)
www.wsj.com/finance/curr...
Thank you, @mariacrawford.bsky.social -- from my home in Japan, bowing as I type the words! (Eddie Fishman will hopefully find some other means of expressing his gratitude, since he's not in Japan.)
September 9, 2025 at 4:10 AM
Thank you, @mariacrawford.bsky.social -- from my home in Japan, bowing as I type the words! (Eddie Fishman will hopefully find some other means of expressing his gratitude, since he's not in Japan.)
Reposted by Paul Blustein
Term premium is the added compensation that investors demand for fear that appointees to a nominally independent central bank might withdraw or be fired on some pretext before the end of their term.
August 26, 2025 at 2:39 AM
Term premium is the added compensation that investors demand for fear that appointees to a nominally independent central bank might withdraw or be fired on some pretext before the end of their term.
The adjectives used to laud my book are a tad less glowing than the ones used for Ken Rogoff's book and Eddie Fishman's book, but I'm not complaining!
(And I'm honored to be in Ken and Eddie's distinguished company.)
foreignpolicy.com/2025/08/22/t...
(And I'm honored to be in Ken and Eddie's distinguished company.)
foreignpolicy.com/2025/08/22/t...
The Future of the Dollar Lies Within
Dollar dominance is here to stay, if the United States can keep it.
foreignpolicy.com
August 23, 2025 at 1:33 PM
The adjectives used to laud my book are a tad less glowing than the ones used for Ken Rogoff's book and Eddie Fishman's book, but I'm not complaining!
(And I'm honored to be in Ken and Eddie's distinguished company.)
foreignpolicy.com/2025/08/22/t...
(And I'm honored to be in Ken and Eddie's distinguished company.)
foreignpolicy.com/2025/08/22/t...
Look what came in the mail! Say, have you ever wondered what "To my grandchildren, whom I will always love unconditionally even if they grow up to like crypto" looks like in Korean? Well, now you know!
August 22, 2025 at 9:56 PM
Look what came in the mail! Say, have you ever wondered what "To my grandchildren, whom I will always love unconditionally even if they grow up to like crypto" looks like in Korean? Well, now you know!
Most of you on this site who are even slightly interested in trade probably know already how trenchant @alanbeattie.bsky.social's work is, but this column is especially deserving of commendation.
My Trade Secrets today.
Everyone says Donald Trump conducts trade and tax policy like a mafia boss.
But dealing with him often means not just an offer you can’t refuse but an offer you can’t rely on — sometimes an offer you can’t understand.
on.ft.com/45KbJcQ
Everyone says Donald Trump conducts trade and tax policy like a mafia boss.
But dealing with him often means not just an offer you can’t refuse but an offer you can’t rely on — sometimes an offer you can’t understand.
on.ft.com/45KbJcQ
Trump’s roving banditry will undermine the US economy
[FREE TO READ] On tariffs and tax the president acts like a mafia boss, but not a very good one
on.ft.com
August 21, 2025 at 10:44 AM
Most of you on this site who are even slightly interested in trade probably know already how trenchant @alanbeattie.bsky.social's work is, but this column is especially deserving of commendation.
An excellent article by @mcopelov.bsky.social, and I would say so even if it didn't include a nice shout-out for my book!
www.msn.com/en-us/money/...
www.msn.com/en-us/money/...
MSN
www.msn.com
August 20, 2025 at 12:25 PM
An excellent article by @mcopelov.bsky.social, and I would say so even if it didn't include a nice shout-out for my book!
www.msn.com/en-us/money/...
www.msn.com/en-us/money/...
This can’t possibly be true—I’ve been told repeatedly that the market turmoil in April was a clear harbinger that dollar dominance is doomed.
www.ft.com/content/6601...
www.ft.com/content/6601...
It’s a run to hedge the dollar, not a run on the dollar
Hedge hogging
www.ft.com
August 20, 2025 at 12:53 AM
This can’t possibly be true—I’ve been told repeatedly that the market turmoil in April was a clear harbinger that dollar dominance is doomed.
www.ft.com/content/6601...
www.ft.com/content/6601...