Book Event: Daniel McDowell's "Bucking the Buck: US Financial Sanctions & the International Backlash against the Dollar"
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Please join the Economics Program at the Center for Strategic and International Studies (CSIS) for a discussion of Daniel McDowell's new book Bucking the Buck: US Financial Sanctions & the International Backlash against the Dollar. CSIS senior fellow, Gerard DiPippo, will be joined by Daniel McDowell to discuss the implications of sanctions for the dollar's status, the relationship between dollar dominance and U.S. sanction capabilities, and the response of U.S. major rivals to these measures.
Daniel McDowell is associate professor of political science at the Maxwell School of Citizenship and Public Affairs at Syracuse University and a 2022-23 Wilson China Fellow at the Wilson Center. His research focuses on the international politics of money and finance, with a focus on the role of the United States and China. He is the author of numerous articles in top international relations journals as well as Brother, Can You Spare a Billion? The United States, the IMF, and the International Lender of Last Resort (Oxford, 2017). McDowell received his Ph.D. and M.A. in foreign affairs from the University of Virginia and his bachelor's degree in political science from Malone University.
Gerard DiPippo is a senior fellow with the Economics Program at the Center for Strategic and International Studies (CSIS). He joined CSIS after 11 years in the U.S. intelligence community (IC). From 2018 to 2021, DiPippo was a deputy national intelligence officer for economic issues at the National Intelligence Council, where he led the IC's economic analysis of East Asia. He also was a senior economic analyst at the Central Intelligence Agency, focused on East Asia, South Asia, and global economic issues. DiPippo holds a bachelor's degree in economics and philosophy from Dartmouth College. His research focuses on China economic issues, sanctions, monetary and currency issues, and industrial policy.
Daniel McDowell's Bucking the Buck argues that the sanctions do not threaten the dollar's global status, but the overuse of sanctions may decrease their effectiveness as U.S. adversaries develop new systems to mitigate such measures.
This event is made possible through general support to CSIS.
- Andrea Leonard Palazzi
- Research Associate, Economics Program
Bearing the Brunt: The Impact of the Sanctions on Russia’s Economy and Lessons for the Use of Sanctions on China
This report assesses the effects and effectiveness of international sanctions and export controls aimed at Russia since its 2022 invasion of Ukraine, suggesting lessons for the use of sanctions on China in the event of a crisis over Taiwan.
Report by Gerard DiPippo and Andrea Leonard Palazzi — February 23, 2023