The Dollar Is Dead - Long Live The Renminbi

From The Telegraph:

Whatever happens at the G20, the days of Western dominance are at an end, says Jeremy Warner.

Sometimes it takes a crisis to restore reason and equilibrium to the world, and so it is with the trade and capital imbalances that were arguably the root cause of the financial collapse of the past two years.

To economic purists, the changes now under way in demand and trade are inevitable, necessary and even desirable. Even so, dollar supremacy and the geo-political dominance of the West are both likely long-term casualties.

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My Comment: In the past, it was the countries that had a strong currency that eventually became dominant on the international stage in both political and military affairs. I do not expect this to change.

Will China become dominant .... if they do not fracture like the Soviet Union did into different ethnic groups and states .... I would have to say (definitely) yes.