For many years, the dollar has been dominant over any other currency. The United States, as we all know, is facing an economic crisis and it is being felt all across the world. Recently, China has expressed that it wants to create a new global currency comprised of a basket of global currencies, which would be controlled by the International Monetary Fund. Although the United States and Europe have not paid much to attention to the decision, if such thing was to happen the dollar would weaken to extreme measures. It is important to note that China does hold approximately close to $1 trillion in treasuries and other government debt. This is just China's way to gain more power and to have their government's voice heard. The dollar is and will be for many years to come the trading currency of the world and many do agree with such a statement. For the full article please click on the following link:
http://www.msnbc.msn.com/id/29865124/
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