RMB to become one of global reserve currencies: Expert

    Updated: 2011-10-20 11:28

    (Xinhua)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    WASHINGTON -- China's currency yuan is expected to become an important global reserve currency, although it will not challenge the US dollar's dominant role in the international monetary system, said a US economist on Wednesday.

    In the short term, the US dollar's status in the world remains unrivaled, but in the long run, there would be a different picture if the US economy fails to support its global privilege, Barry Eighengreen, professor of Economics and Political Science at the University of California, Berkeley, said at a book discussion event at the International Monetary Fund (IMF) in Washington.

    The dependence on dollars by banks, corporations, and governments around the world is a source of strength for the United States, said the financial historian, also the author of a new book entitled Exorbitant Privilege -- The Rise and Fall of the Dollar and the Future of the International Monetary System.

    However, recent events have raised concerns that this may soon be a privilege lost, he said.

    With the latest financial crisis and the rise of the emerging market economies, noticeably China, America no longer towers over the global economy, said the professor.

    Eighengreen projected that in about ten years, there would be three major global reserve currencies, including the US dollar, which will account about 50 percent of the global share; Euro will account 30 percent; and Chinese yuan, also known as renminbi, account 15 percent. ?

    The dollar will lose its international currency status, Eichengreen warns, if the United States repeats the mistakes that led to the financial crisis and if it fails to put its fiscal and financial house in order.

    The greenback's fate hinges, in other words, not on the actions of the Chinese government but on economic policy decisions in the US, he added.

    According to US Treasury Department, the world's largest economy has been running more than $1-trillion federal government deficit for three consecutive years. US debt to GDP ratio is about 8.6 percent currently. More and more people within the United States worry about the country's fiscal sustainability, which in turn will have negative impact on the dollar's future.

    Related Stories

    China cuts holdings of US debt 2011-10-20 07:51
    Debate: US debt ceiling 2011-08-01 08:20
    US Treasury official to visit Beijing 2011-10-01 08:21
    US Treasury holdings rise in June 2011-08-17 09:17
    国产精品无码无卡无需播放器| 最好看的电影2019中文字幕 | 91久久九九无码成人网站 | 久久久中文字幕日本| 91久久精品无码一区二区毛片| 中文字幕av无码一区二区三区电影| 中文字幕AV影片在线手机播放| 无码国产精品一区二区免费16| 乱人伦中文字幕在线看| 亚洲精品人成无码中文毛片 | 日韩欧国产精品一区综合无码| 日韩精品无码免费专区午夜| A狠狠久久蜜臀婷色中文网| 久久久久亚洲av成人无码电影 | 久久久精品无码专区不卡 | (愛妃視頻)国产无码中文字幕| 最新无码A∨在线观看| 日本乱偷人妻中文字幕在线| 熟妇人妻VA精品中文字幕| 无码国模国产在线无码精品国产自在久国产 | 少妇人妻无码专区视频| 无码国产精品一区二区免费虚拟VR | 亚洲精品无码国产| 最近中文2019字幕第二页| 免费A级毛片无码A∨中文字幕下载| 亚洲Aⅴ无码一区二区二三区软件| 国产精品无码日韩欧| 欧洲无码一区二区三区在线观看 | 亚洲熟妇无码另类久久久| 亚洲七七久久精品中文国产 | 亚洲天堂中文字幕在线| 最近最新中文字幕高清免费| 久久丝袜精品中文字幕| 中文字幕乱偷无码AV先锋| 亚洲高清中文字幕免费| 中文字幕无码久久久| 一本色道无码道在线| 中文字幕丰满乱子伦无码专区 | 中文字幕精品视频在线| 五月丁香啪啪中文字幕| |