Harvard Law School, Program on International Financial Systems
Special Event
Enodo Economics’ Chief Economist, Diana Choyleva, participated in the panel ”Reserve Currencies: Trends, Risks, and Outlook” at the 2025 China – US Symposium in Washington D.C., on 26th of September 2025.
Description
Participants discussed the current status and future prospects for the U.S. dollar and
other currencies as international reserve currencies. They noted that the U.S. dollar remained
dominant in international reserves and payment, but some argued that its dominance was slowly
eroding. Participants considered economic and political forces that could weaken the role of the
dollar, including fiscal and monetary policy, rule of law, and geopolitics. There was also some
discussion of how the rise of stablecoins and tokenization in the financial system might affect the
role of various currencies, with many arguing that widespread use of stablecoins in particular
would likely strengthen the global role of the U.S. dollar.
Speakers
- Diana Choyleva, Founder and Chief Economist at Enodo Economics
- Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley
- Martin Chorzempa, Senior Fellow, Peterson Institute for International Economics
- Shen Jianguang, Professor, Fudan University
- Moderated and introduced by: Stefan Gavell, Vice Chair, PIFS
You can find the final symposium report HERE.
