World Bank: US dollar set to be eclipsed

(GUARDIAN) — The United States must brace itself for the dollar to be usurped as the world’s reserve currency as American dominance wanes in the wake of the financial crisis, the World Bank president, Robert Zoellick, warned yesterday.

Speaking ahead of the World Bank/IMF annual meetings in Istanbul, he said it was time for a “responsible globalisation”, in which decision-making was shared between the old powers and developing countries such as China and India.

via US dollar set to be eclipsed, World Bank president predicts | Business | .

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