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France and Russia on Sunday urged a debate about the world's reserve currencies, but China said the dollar would keep its pre-eminence for "many years to come."
Originally posted by kyred
Well, duh, yeah! China holds much U.S. treasury debt paper. For sure they won't want the dollar to disappear. At least, not yet. It's got to be a slower process.
Originally posted by Jacob08
However the speed at which they are getting rid of the dollar suggests they are preparing for the worst. If an asset is bad you want to get rid of it before everyone else realises it's bad.
there isn't much chance they will be able to get rid the dollar before people realise it's bad and it loses a lot value.
[edit on 5-7-2009 by Jacob08]