Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Washington Post:

Nouriel Roubini, a professor at New York University who as far back as 2006 predicted a U.S. economic collapse triggered by a housing bubble, said in an interview that the financial crisis has shown that "different countries grow in different ways, and nobody has the monopoly on that type of wisdom." While he does not expect any immediate change in the international monetary system, he said, in five to 10 years "the Chinese currency could be the new reserve currency."
by Magnifico on Thu Apr 23rd, 2009 at 04:52:25 PM EST
But do the Chinese want to have a reserve currency? What's in it for them? Haven't they been able to capture so much American industry precisely because the US had a reserve currency but lacked any serious fiscal or industrial policy?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat Apr 25th, 2009 at 11:10:51 AM EST
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