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The US dollar is a product of the past.

Somehow I doubt this will go over well with the International business community. While it's likely true that more and more nations distrust the American political quadmire I suspect fewer still trust the communist government in China...

But ya never know...
 
It's way too soon right now. Like the article states, it's going to be a long time until it may actually become a global currency.
 
Yes, it will be a long time before anything replaces the dollar... for one simple reason. The USA is still the most stable of all investments. People can hate the US all day long, but in the end, if your betting on government collapse, US is last on the list.

The Euro is falling apart before our eyes, and that was supposed to be the next big deal.
 
the Euro ain't falling apart, there just needs to be more Eurofederal structures and less stupid political decisions
That said I reckon Greece and Portugal will default
 
cipher6 said:
Yes, it will be a long time before anything replaces the dollar... for one simple reason. The USA is still the most stable of all investments. People can hate the US all day long, but in the end, if your betting on government collapse, US is last on the list.

The Euro is falling apart before our eyes, and that was supposed to be the next big deal.
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And the Dollar been falling apart long before the euro was.

You may think the US gov is stable. but they have no clue as how to solve this economic crisis. They think by spending more money than we have is going to solve it? I think we are on the verge of riots starting in this country. Because people are not happy with our officials. Also why other countries are failing economically is because they looked towards us as the country with money to blow and to bail them out. Now we cant do this as we have no money to spare and these other countries has to stand on their own.

Why you shouldnt depend on others to make your economy work. You never know when your banker becomes as poor as your country is.
 
PSkeptic said:
Maybe once they stop artificially controlling their currency, it has a chance. Not until then.
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True. I do see this happening one day. The transition to a more captialistic system has to be done properly unlike the former Soviet Union. I'm sure China wants to ensure the people don't wake up one day and find all the prices for everything going out of wack and causing the economy to destablise.
 
Stuntman said:
True. I do see this happening one day. The transition to a more captialistic system has to be done properly unlike the former Soviet Union. I'm sure China wants to ensure the people don't wake up one day and find all the prices for everything going out of wack and causing the economy to destablise.
Click to expand...

my thoughts exactly
the collapse of the Soviet Union was a tragedy..
China is going about things the right way
 
I don't care if the dollar isn't going to be the international currency anymore or the #1 super power. Really we would be better off in many ways.

But the fact that China may be the international currency and super power makes me sick. It had to be China.. ugh.

My father predicted this 10 years ago and our teachers laughed at us when we said China was going to be the next super power shortly.

The euro is just as bad if not worse then the dollar. The door is open China!
 
Tell ya what, anyone who is onboard with this idea, fine, no problem. i'll take those American dollars off your hands for you. Ill gladly take it all day long...any takers, err givers?
 
I don't like authoritarian governments... but if it wasn't for the Chinese Communist Party there would be hundreds of millions more living in dire poverty


of course I'd prefer to see a powerful South American union or ASEAN, but there constituent countries are too small... I'm happy for China to be powerful if they play nice and continue to be good for their people (relatively)

people forget how poor China was two decades ago, and its only around world average GDP now
 
All forms of governments and all countries has their shortcomings. You can always dig up some dirt on any country or government. China for the most part has been able to gradually improve the living conditions for its people over the past couple of decades. There are still very poor people there, and it would be a challenge for any form of government to try to modernise over a billion people who were (and are) traditionally poor farmers with little or no education.
 
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