[lbo-talk] Speaking of the BRICs...

dredmond at efn.org dredmond at efn.org
Fri Jun 26 21:21:11 PDT 2009


Two interesting data-points: the $ made up 73% of global central bank reserves in 2001, but only 64% today, and the broadening of the IMF's special drawing rights or SDRs wouldn't involve just the Chinese renminbi, but the currencies of the other BRIC nations as well:

http://www.bloomberg.com/apps/news?pid=20601087&sid=atQgG1C5Ielw "China’s Central Bank Renews Call for New World Reserve Currency"

It won't happen overnight, but through regional trade and economic integration.

-- DRR



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