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Right now, oil and commodities are transacted in US dollars so countries have to stock-pile dollars. When China becomes the dominant economy, this won't probabl
by espeed 16y ago
Right now, oil and commodities are transacted in US dollars so countries have to stock-pile dollars. When China becomes the dominant economy, this won't probably won't be the case for long.
See this discussion from yesterday -- "Petrodollar Warfare -- AKA the "Oil Currency Wars" (http://news.ycombinator.com/item?id=2477659 http://news.ycombinator.com/item?id=2477659)