Anyone else noticed this / have thoughts?
from: http://www.bloomberg.com/apps/news?pid=20601087&sid=ae6ezzIMK6cs&refer=home
Some questions from me to kick us off ..
Is this more posturing than a real suggestion?
What does China's continued digs at the US position mean for the global economy in the short and medium term?
from: http://www.bloomberg.com/apps/news?pid=20601087&sid=ae6ezzIMK6cs&refer=home
Central bank Governor Zhou Xiaochuan this week urged the International Monetary Fund to create a “super-sovereign reserve currency.” The dollar weakened after the Federal Reserve said it would buy Treasuries and the U.S. government outlined plans to buy illiquid bank assets
The global crisis raised the question of which reserve currency would secure “global financial stability and facilitate world economic growth,” Zhou said. He proposed expanding the use of the IMF’s Special Drawing Rights, which are currency units valued against a composite of currencies.
“The basket of currencies forming the basis for SDR valuation should be expanded to include currencies of all major economies, and gross domestic product may also be included as a weighting,” said Zhou.
Some questions from me to kick us off ..
Is this more posturing than a real suggestion?
What does China's continued digs at the US position mean for the global economy in the short and medium term?