| Summary: | What is the role of currency statecraft in world politics? When a national money gains international appeal, the power resources of the issuing country are augmented. Currency statecraft is about what the country chooses to do - or not do - with its currency power. This text begins with the premise that every international money goes through a life cycle, from youth to maturity to (eventually) decline. At each stage, the supplier has three choices: to be pro-active in favour of international use, to resist internationalization, or to remain neutral. The central argument of the text is that beyond purely material factors, currency statecraft is motivated by cognitive considerations having to do with a society's underlying sense of identity.
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