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No replacement for US dollar- Do you agree with this statement?

Created by : Prakash Khairnar, Sr. Associate, DSP Merrill Lynch  | 11 23 2009 14:40:16 +0000
Industry : Equity Research/AnalyticsFunctional Area : Global Business(Strategy & Execution)
Keywords : dollar obama manmohan singh replacement washington
Activity:  119 views;  last activity : 07 06 2010 20:18:09 +0000

http://upload.wikimedia.org/wikipedia/commons/thumb/7/7b/United_States_one_dollar_bill,_obverse.jpg/800px-United_States_one_dollar_bill,_obverse.jpg

Praising the entrepreneurial spirit of the American enterprise, Prime Minister Manmohan Singh has said that there can be no substitution for the US dollar. According to him,even the Chinese, who holds $2.5 trillion in reserve assets, have not disposed off even a fraction of them. According to him, world economy has their faith in Dollar That is a measure of the confidence that the world has in the dollar. Nothing else. The world has not entered an era of irreversible shift in the economic strength of the United States

What do you think about this statement of Mr. singh? Is there really can't be any replacement for Dollar?

  
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I agree with this statement. There is no currency in the whole world which is so reputed and powerful as Dollar. It is used as medium of International business transactions. We cannot imagine business transaction terms without the use of Dollar. It is the king of currencies. That is why there is no replacement for Dollar.
By Prakash Khairnar, Sr. Associate, DSP Merrill Lynch  | 11 23 2009 14:40:16 +0000
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it is just the politics that made Mr. Monmohan Singh say like that...as a economist of his level knows it very well that any country nor currency is not stable  in power..the more powerfull or coercive a country is the more powerfull its' currency will become...
By sanjeeb tamuli, Business Development-NER, Indian Energy Exchange Limited  | 01 23 2010 17:33:47 +0000
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Manmohan singh should be diplomatic there. According to me, dollar is just a medium of international business. Tomorrow some other currency may also come in its place. Only its matter of time. Dollar is most poweful because USA is most powerful. Tommorow if some other country become more than that, its currency will become mode of international business. So, there is no meaning of highlighting only one currency.
By Rakesh Chakraborty, Sr. Associate, ING  | 11 23 2009 14:51:34 +0000
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