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World government and world currency are not the same. The Chinese government wouldn't really want either though, given the games they play with the Renminbi.
by zhemao 13y ago
World government and world currency are not the same. The Chinese government wouldn't really want either though, given the games they play with the Renminbi.
- ChuckMcM 13y agoThey kind of are, the same that is. A reserve currency (such as the one called out here in the article) is a sort of 'place holder' currency. But to be a valid place holder it has to have some structure against which to balance, a connected monetary policy if you will. Look no further than the Euro to see how challenging it is to manage a currency. And note that the countries in the EU are co-operating. Imagine how hard it would be if Greece or Spain was actively trying to siphon money out of Germany because of treaty obligations. If a recipe can be figured out for managing the Euro, then there will be a call for doing the same thing world wide, but until then its just a free poke at the US for being stupid.