Asian countries, including China, are talking about the introduction of a common currency to counterbalance the Euro and the U.S. dollar.

China, Jana and the Republic of Korea could take the lead in this project, as reported by Xinhuanet.

If "Asian Dollar" comes true, the "Asian Dollar Zone" members will enjoy zero tariff, resulting in a consolidated economy in the region; the unitary currency can also help the region avoid impacts of US Dollar and Euro when they fluctuate; and "Asian Dollar" may set prices for government bonds of Asian countries, which reduces risks for investment. Furthermore, the co-existence of US Dollar, Euro and Asian Dollar will be helpful for the stability of world economy.

Currently, Asia is experiencing the fastest economic growth in the world, and thus, a unitary currency for Asia is of great significance.
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Studies show that a unitary currency could triple the trade volume in the region, according to some researchers.

There have been questions among OPEP countries (BBC) as to whether or not the U.S dollar should remain the trade currency used for oil.

All of these factors could quite certainly affect the leading position the U.S has enjoyed since World War II.

Categorie(s)/Catégorie(s): World

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