Quote:
Originally Posted by Sylvanfan
My question is that if they do abandon the US dollar as the standard currency in which commodities like wheat, oil, soy beans, and copper are valued, what are they going to move to? Europeans are hardly shining economic stars in their own right, they're as bad as us North Americans for having debt, and this is with a long history of bankrupting themselves as nations. Fart, they expect to make a good living, have a fantastic social safety net, and do it while working 35 hours a week with 7 weeks paid hollidays a year. Even if the Eurounion split is Germany big enough to rule the economic world?
It's gotta to be the Chinese Yuan that takes over the world.
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We can already see the shift happening when two of the bigger economies in Russia and China agreed to no longer use the USD in trade.
I think currently, there is no currency that can replace the Dollar... the Euro has its own issues and the Europeans are making the same mistakes that the US made by propping up internal companies that failed which weakens the value of the Euro internally driving Europe further and further into debt... and the Chinese RMB isn't near ready yet considering it's a blocked currency and will need time to transition and be ready on the international stage.