464 | Saleha Mohsin: How the Weaponization of the Dollar Changed the World Order

The Realignment

Technology, News Commentary, National Security, Marshall Kosloff, International Relations, News, Public Policy, Economics, Politics, Saager Enjeti, U.s. Politics, Policy

4.8 • 2.5K Ratings

🗓️ 19 March 2024

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Saleha Mohsin, author of Paper Soldiers: How the Weaponization of the Dollar Changed the World Order and Senior Washington Correspondent for Bloomberg News, joins The Realignment. Saleha and Marshall discuss the "strong dollar" consensus that emerged after the end of the Cold War, the resulting tradeoff between cheap consumer imports and the decimation of the manufacturing sector, how the Trump administration began to turn against the strong dollar consensus, the role the Treasury Department and the dollar play in perpetuating America's superpower status, and the increasing use of financial sanctions from the War on Terror to Russia's invasion of Ukraine.

Transcript

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0:00.0	Marshall here, welcome back to the realignment.
0:03.0	Before we dive into today's episode, a quick note that Zager and I are recording our latest.
0:13.0	Ask Be Anything Plus Weekend discussion episode later this week.
0:16.0	If you'd like to submit your questions, hear the full audio of that conversation this weekend.
0:20.0	Get an ad-free version of this podcast, or just want to support the realignment financially,
0:25.8	go to realignment. supercast.com.
0:29.4	On to today's episode, my guest is Bloomberg's senior Washington correspondent
0:34.1	Sala Emotion, author of Paper Soldiers, How the Weaponization of the Dollar
0:38.9	changed the World Order. This conversation in her book are all about how the post-Cold War strong dollar policy adopted in
0:47.0	Washington coming out of the Treasury Department drove 30 years of American economics
0:52.2	from the maintenance of our super power status to the destruction
0:56.0	of manufacturing jobs in the face of cheap overseas imports.
1:00.8	As with many issues during the realignment era, with Trump's election in 2016, the bipartisan consensus around a strong dollar increasingly found itself under assault.
1:09.0	And as we look towards the effects of sanctions policies when it comes to
1:13.6	deterring conflict or responding to conflict in Eastern Europe with Russia and
1:18.8	Ukraine we can understand these debates are going to continue to move forward
1:22.3	regardless of who wins in 2024.
1:24.8	Sala takes us inside these debates and more in her book.
1:28.1	If you enjoy this conversation, you can click the link in the show notes to purchase her book
1:32.0	from our book shop.
1:33.2	We will get 10% of that and you will of course support a local bookseller as well.
1:37.4	A huge thank you to the Foundation for American Innovation for supporting the work of this
	...

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