# In a co-authored column, Professor Kim Schoenholtz argues that the global financial system will continue to operate on a dollar system for at least the next 10 years

1 Faculty News April 14, 2020 ![International Economy Logo 190 x 145](/sites/default/files/styles/246w/public/assets/images/unnamed_24.jpg?itok=xeaG41xq)>

Excerpt from [The International Economy](http://www.international-economy.com/TIE_W20_DollarRoleSymp.pdf) -- "No one knows how the global financial system will evolve over the next decade, but we can look to the past as a guide to what the broad contours are likely to be. First, the dollar-based system arose in the aftermath of World War I largely because of the trust established when the United States remained on the gold standard while others, especially the British, did not."

[Read More](http://www.international-economy.com/TIE_W20_DollarRoleSymp.pdf)