PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (434745)	7/28/2003 1:42:53 PM
From: DuckTapeSunroof	Read Replies (1) of 769667

Agreed... (That's one of the reasons I said there is no suitable alternative currency in international trade to the dollar yet). But the 30+ decline over the past 18 months of the dollar vs. the Euro really hasn't improved our trade competitiveness much because we already have a rough balance of trade flows with Europe. It's Asia (specifically: China & Japan) that are pressing our manufactures... and piling up hundreds of billions in dollars in their foreign trade accounts as a result. When the Yuan is floated, a Yuan + Yen index would offer real competition to the dollar... the availability of denominating in Dollars, Euros, or Yuan/Yen index would be beneficial to trading businesses, but VERY BAD for any country that refuses to control it's deficits. The reign of the dollar as the World's reserve currency might be over.

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