Despite calls for less reliance on the Dollar, Russia and China will have to trade and keep reserves in USD for the foreseeable future says Walter Lohman, Director of The Heritage Foundation's Asian Studies Center.
Wednesday, June 17, 2009
US reform plan to push for financial regulation
Barack Obama, the US president, is expected to unveil a plan aimed at preventing the global financial crisis from worsening.
The blueprint will impose broader government oversight on the nation's banking system and create new agencies to regulate banks.
From New York, Al Jazeera's John Terrett reports on what is being called the most sweeping overhaul of financial rules since the Great Depression.
The blueprint will impose broader government oversight on the nation's banking system and create new agencies to regulate banks.
From New York, Al Jazeera's John Terrett reports on what is being called the most sweeping overhaul of financial rules since the Great Depression.
BRIC summet and the Dollar alternative
BRIC summet , Regional Currencies and the dollar:
With BRIC nations discussing the role of reserve currencies RT spoke with Elina Rybakova, Chief Economist at CitiBank, Russia, about the possible role of regional currencies as alternatives to the dollar. This could sign an end to the major role of the dollar as world reserve and trade currency ?!?!?! are those BRIC nations which by the way are amongst the bigger US dollar reserves holder capable of dumping the dollar jeoparadizing their own reserves of dollars ?
With BRIC nations discussing the role of reserve currencies RT spoke with Elina Rybakova, Chief Economist at CitiBank, Russia, about the possible role of regional currencies as alternatives to the dollar. This could sign an end to the major role of the dollar as world reserve and trade currency ?!?!?! are those BRIC nations which by the way are amongst the bigger US dollar reserves holder capable of dumping the dollar jeoparadizing their own reserves of dollars ?
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