Decline of the U.S. Dollar: Asian Initiative to Create Commodity Based Currency? [View article]
I'm sorry. Can anyone who follows Asian history, and Asia currently, think anything will really come from their currency swaps? Basic economic principles of trade, currency, interest rates, risk, etc, mean that an Asian currency union would become a return to the Chinese Tribute system (not literally, but a modern semblance of). Asian nations are very proud peoples, for good reason. They will not allow the Chinese to return them to some modern version of the tribute system.
The American dollar will remain the world currency. Period.
Decline of the U.S. Dollar: Asian Initiative to Create Commodity Based Currency? [View article]
The American dollar will remain the world currency. Period.