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Originally Posted by borked
these emerging economies (India and China particularly) will soon be a force to be reckoned with on any market.
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Soon? How about yesterday?
Quote:
Originally Posted by Sly
How has this worked out for the Euro zone?
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Quote:
Originally Posted by WiredGuy
I think Greece has demonstrated quite well on what happens when you have a consolidated currency with multiple countries.
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They're not planning on phasing out their own currencies and replace them with another. They just want to define a new reserve currency which, currently, can be backed by more than a printing press owned by the FED.
Quote:
Originally Posted by arock10
China needs to liberalize the fuck out of the currency before it has any hope of worldwide useage
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Yes and no. While their currency is admittedly undervalued, it's also backed by some serious assets and surpluses. Compare that with the "liberalized" (yeah, right) USD, which has pretty much no backing nowadays, and the renminbi wins hands down.