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The US market is only 30% of the WW semiconductors market; the bulk is now in Asia-Pac. Same for civilian aircrafts, BTW.

Asian manufacturers whose home currency is de facto pegged to the USD are all too happy to see their EU based competitors being slaughtered by the falling greenback. Whether you like it or not, major business in this region is in USD. Same for oil.

The real question: what would it take for these businesses (especially for oil) to stop trading in dollars and switch to - what? A basket of currencies?

by Bernard on Wed Sep 30th, 2009 at 09:55:24 AM EST
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