Financial globalisation has been a central feature of the world economy since the mid 1990s, leading to large holdings of cross-border assets and liabilities (Milesi-Ferretti
Several central banks, including the European Central Bank (ECB), are pursuing plans to potentially introduce a central bank digital currency (CBDC) alongside physical money. Such
History provides examples of large changes in the relative economic size of nations. Often these economic realignments coincide with heightened geopolitical tension. A historical example