Apuntes para entender el poder monetario como instrumento de la política exterior de los Estados Unidos
DOI:
https://doi.org/10.38180/hrnca035Palavras-chave:
Dólar, Política Exterior, Hegemonía Monetaria, Sanciones, desdolarizaciónResumo
Este trabajo examina cómo la centralidad internacional del dólar americano (USD) se convierte en una herramienta para la política exterior de los Estados Unidos, para lo cual proponemos una explicación basada en mecanismos y apoyada en un diseño histórico-institucional. Nuestro marco teórico combina el análisis de sistema-mundo como marco de jerarquía con enfoques sobre poder estructural, moneda dominante, activos seguros y coerción financiera. Al respecto, sostenemos que la primacía del dólar descansa en cinco aspectos complementarios que identificamos: el diseño institucional heredado de 1944; los efectos de red que concentran pagos, facturación y financiamiento en dólares; la demanda global de activos seguros emitidos por Estados Unidos; la capacidad de la Reserva Federal (FED) para proveer liquidez internacional; y la infraestructura jurídica y sancionatoria que permite monitoreo y exclusión financiera. La evidencia reciente confirma la persistencia del dólar, aunque también muestra una desdolarización parcial y sectorial cuyas causas esbozamos. Concluimos señalando que el dólar sigue siendo el principal instrumento monetario de la política exterior estadounidense, pero su poder es condicional y depende de la credibilidad internacional, la cooperación de sus aliados, y la ausencia de una moneda sustituta que pueda reemplazarlos en sus funciones internacionales.
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