Moderators lazarus Posted May 15, 2009 Moderators Share Posted May 15, 2009 Professor Roubini, of New York University's Stern business school, believes that while such a major change is some way off, the Chinese government is laying the ground for the yuan's ascendance. Known as "Dr Doom" for his negative stance, Prof Roubini argues that China is better placed than the US to provide a reserve currency for the 21st century because it has a large current account surplus, focused government and few of the economic worries the US faces. In a column in the New York Times, Prof Roubini warns that with the proposal for a new international reserve currency via the International Monetary Fund, Beijing has already begun to take steps to usurp the greenback. http://www.telegraph.co.uk/finance/finan...e-currency.html Quote Great spirits have always found violent opposition from mediocrities. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence. Einstein Link to comment Share on other sites More sharing options...
Dr. Shane Posted May 15, 2009 Share Posted May 15, 2009 China is definitely an economic force today and will be a greater one in the future. Quote Pastoral Family Counselor... Find me at www.PostumCafe.com Author of Peculiar Christianity Link to comment Share on other sites More sharing options...
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