The head of the Chinese central bank has called for a new global currency controlled by the International Monetary Fund (IMF), saying such a move would give governments particularly in the developing world the ability to manage their economies more efficiently.
In an online essay Zhou Xiaochuan, governor of the People's Bank of China, said the global financial crisis had exposed the danger of relying on one nation's currency for international payments.
The essay, released on the bank's website late on Monday, did not mention the US dollar by name, but the vast majority of international finance is carried out in dollars. More...
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I dont think there is any alternative now...maybe later
ReplyDeleteWhatever the "alternative", we'll probably end up being screwed. The Big Boys have all the advantages stacked in their favour, which is why they are promoting a one-world currency...
ReplyDelete