want to become wealthy.

📌 Foreign Exchange Reserve Crisis and the IMF ― Shadows of 1997 and the Emerging Market Economies of 2025 --- Part I. What Is the IMF, and Why Do People Say “The IMF Is Coming”? In economic news articles, one often encounters the expression: “The IMF is coming.” This phrase does not literally mean that IMF officials are physically arriving in a country on airplanes. Rather, it refers to a situation in which a nation’s economy falls into crisis and is forced to request emergency financial support and structural adjustment programs from the International Monetary Fund (IMF). --- The Birth of the IMF ― A Global Safety Net Born from War The IMF was first designed at the Bretton Woods Conference in New Hampshire, 1944, during the final stages of World War II. At that time, global trade was collapsing, exchange rates were unstable, and the international financial order was in disarray. The United States and the United Kingdom took the lead in creating a new financial system: the...

The Shaking Dollar Hegemony ― Will It Lose Its Crown? --- Part I. How Did the Dollar Rise to the Throne? When we talk about today’s global economy, it is impossible to leave out the U.S. dollar. The dollar is not just a currency; it functions as the language of international trade and the unit of measurement for investors. According to the 2024 report by the Bank for International Settlements (BIS), 88% of global foreign exchange transactions involve the U.S. dollar. For comparison: the euro accounts for 31%, the Japanese yen 17%, and the Chinese yuan 7%. Even when combined, they do not reach half the share of the dollar. This means that whether it’s an investor in New York, a commodity trader in Brazil, a business owner in Africa, or an exporter in South Korea, global trade is almost impossible without using the dollar. But when, and how, did the dollar ascend to this “throne”? --- 1. The Bretton Woods System ― The Marriage of Gold and the Dollar In 1944, as World War II w...