US dollar set to be eclipsed, World Bank president predicts
In support of my previous post - source
United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency, says Zoellick
The United States must brace itself for the dollar to be usurped as the world’s reserve currency as American dominance wanes in the wake of the financial crisis, the World Bank president, Robert Zoellick, warned yesterday.
Speaking ahead of the World Bank/IMF annual meetings in Istanbul, he said it was time for a “responsible globalisation”, in which decision-making was shared between the old powers and developing countries such as China and India.
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