International Monetary Cooperation, Domestic Politics, and Policy Ideas

Extract

International monetary problems moved from the back pages to the front pages long ago, and yet, despite much attention, they continue to trouble national leaders, entrepreneurs, international officials and scholars, and to affect the average citizen. World payments imbalances and currency fluctuations have substantial domestic economic effects, give rise to protectionist pressures, put unwelcome heat on politicians, and raise fears that resulting governmental conflicts could unravel political-security relations. Thus, large and small nations meet in various fora, from bilateral sessions through the Group-of-Seven powers to the annual IMF conference, to negotiate proposed changes.