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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.
Because his descriptions of the current economic crisis have proven to be accurate, he is today a major figure in the U.S. and international debate about the economy. Although he is ranked only 410th in terms of lifetime academic citations, Prospect Magazine in January, 2009, voted him #2 on its "list of the world’s 100 greatest living public intellectuals." He has recently appeared before Congress, the Council on Foreign Relations and the World Economic Forum at Davos. Having become a sought-after adviser, he spends much of his time shuttling between meetings with central bank governors and finance ministers in Europe and Asia."
Originally posted by SLAYER69
Well he seems to have a good reputation. I honestly don't see how this can happen. Unless it is a massive coordinated effort on a global scale. Too many people around the world know, use and still trust the Green back.
Originally posted by Rockpuck
but I think an intelligent person would prefer a Euro, or a Pound over our Dollar any day.
That's kind of an insult dont you think? Anybody who has faith in the greenback is unintelligent?
Anyway. A lot of people don't care what Iran or Russia does. As far as a weakening dollar that can be a good thing as mentioned above, that means American made products become more reasonable abroad.
Contrary to popular belief the US is still the Big Dog when it comes to high quality High Tech items. Most are not the average consumer item though.