The dollar's dominance called into question - International Herald Tribune

The dollar's dominance called into question - International Herald Tribune

But some analysts wonder how much longer China can continue to win at this game. Investing money in the United States requires spending that much less on enormous problems at home, like pollution and a shortage of health care. By indirectly making mortgages cheap in the United States, China has helped foster the boom that saturated Miami with glittering condos even as tens of millions of Chinese live in dilapidated concrete block apartments.

One more turn of the screw ...

Does the poor Chinese know that his land is used to make build factories, which use Chinese labour to manufacture low priced products that are sent to the US to earn them over valued dollar - which is depreciating and used to build shiny glass building in the US - while the pooor Chinese still lives in a hovel.

Announcement

The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping - and unprepared. But, not 2ndlook - who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.