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“Dropping the dollar? Not very realistic”

October 12, 2009 16:50

Speculation about dropping the dollar as the key trading currency, which would be of interest for the Russia-China partnership, aren’t realistic, said Natalia Zaderey from the Institute of Far Eastern Studies in Moscow.

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jon 12.10.2009 17:04

The dollar is here to stay for the forseeable future. World leaders know that trying to drop the dollar will result in a severe world depression. Even if world leaders choose to keep the dollar strong, the world can still fall into a severe depreciation worse than the world has ever seen when the Chinese bubble busts. The bubble will probably bust within the next two years unless leaders like P. M. Putin take steps to avert the disaster. The question is not if, but when the China bubble busts.

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