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« India and Sri Lanka | Main | Submerging . . . »
Thursday, October 29, 2009 at 12:01 AM
12:01AM

The dollar's just not what it used to be

DateThursday, October 29, 2009 at 12:01AM

OP-ED: HSBC bids farewell to dollar supremacy, By Ambrose Evans-Pritchard, Telegraph, 20 Sep 2009

Key bit:

Crucially, China and rising Asia have reached the point where they can no longer keep holding down their currencies to boost exports because this is causing mayhem to their own economies, stoking asset bubbles. Asia's "mercantilist mindset" of recent decades is about to be broken by the spectre of an inflation spiral.

The new order on currencies is coming--needed and inevitable.

(Thanks: Terry Collier)

AuthorThomas P.M. Barnett CommentPost a Comment | Reference1 Reference |
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