(Source:GoldAlert.Com) The U.S. dollar’s status as the world’s single reserve currency will end by 2025, according to a new report by the World Bank.“By 2025, six major emerging economies—Brazil, China, India, Indonesia, South Korea, and Russia—will account for more than half of all global growth, and the international monetary system will likely no longer be dominated by a single currency. As economic power shifts, these successful economies will help drive growth in lower income countries through cross-border commercial and financial transactions.” the report noted.Mansoor Dailami, lead author of the report and manager of emerging trends at the World Bank, commented that “Over the next decade or so, China’s size and the rapid globalization of its corporations and banks will likely mean a more important role for the renminbi. The most likely global currency scenario in 2025 will be a multi-currency one centered around the dollar, the euro, and the renminbi.”
Source link:http://www.goldalert.com/2011/05/u-s-dollars-reserve-currency-status-to-end-by-2025/
Source link:http://www.goldalert.com/2011/05/u-s-dollars-reserve-currency-status-to-end-by-2025/
