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WASHINGTON — THERE are few truisms about the world economy, but for decades, one has been the role of the United States dollar as the world’s reserve currency. It’s a core principle of American economic policy. After all, who wouldn’t want their currency to be the one that foreign banks and governments want to hold in reserve?
But new research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.
originally posted by: jaws1975
originally posted by: grey580
Somehow I don't see China as the kind that would commit that sort of suicide.
If you tank the dollar who's going to buy all your cheap products?
Doesn't matter, they have assets and surpluses, and we have debt and more debt! Checkmate!
originally posted by: georgezip
If this is so bad for the United States, then why did the dollar close at its strongest point in many years today? Also, if China is holding one plus trillion, why would they want to tank the value of those dollars?