Jakarta – China proposes that the meeting with the G8 and G5 Egypt on 9 July 2009 in Italy the possibility of replacing the U.S. dollar from its position as the world’s major currencies. However, G8 countries will not seem to approve these proposals.
Dilansir such as Reuters quoted detikFinance, Sunday (5/7/2009).
Countries that joined in the forum G8 (the United States, Japan, Russia, Germany, France, UK, Italy, and Canada) plan to hold a meeting with the members forum G5 (Brazil, India, China, Mexico and South Africa) in Egypt on 9 July 2009 in Italy.
The meeting is called G14 meeting will discuss the issue of the world economic crisis. Related discussion of the theme, the Chinese suggested that the world began to think to change the position of the U.S. dollar as the currency of the world as one of the world economic recovery solution.Although the meeting has not been held, proposals are invited pro and contra of the countries that will attend the meeting. Japan as a member of the G8 forum of discussion of the agenda, the proposed China.
The argument of Japan, China proposed that the search for a new currency that can be used as the main currency of the world would cause the world economic recovery becomes more difficult, because the majority of countries in the world at this time using the currency to U.S. dollars as reserve devisanya respectively.
Changing the currency is U.S. dollars used in the foreign exchange reserves, the country invites the world to the sale of U.S. dollars in masif. This will cause the assessed value of U.S. dollar exchange anjlok sharply in a short time and will impact on the world economy.
In response to this, foreign exchange observers Farial Anwar detikFinance when contacted, said China’s proposal is basically very good, considering the currency is U.S. dollars have been dominating the world economy.
“Of course this must be done precisely,” said Farial.
According Farial, one of the things that caused the economic crisis in 2008 occurred because the world is too dependent on the currency to U.S. dollars. “So when the U.S. economic collapse, its impact felt in all countries that are too cleave the U.S. dollar currency,” he said.
He said, various efforts have been made to reduce dependence on U.S. dollars. But apparently can not replace the position of U.S. dollars.
“One Euro. Originally it aimed to create an alternative world currency. But the fact is that less a role. That’s because the majority of countries still minded U.S. dollars, including Indonesia,” he said.
In fact, he continue, in fact countries in the world can replace the position start the U.S. dollar gradually. “Kan actually can be done in stages, such as changing the currency used as the foreign exchange reserves in the currency of the euro or the other,” he said.
However, he admitted that so far there has not been the currency has strengthened as the U.S. dollar, so that looks impossible to invite countries in the world to free itself from jeratan U.S. dollars.
“Indeed, it seems like a dream. But Ada Kok countries that already do this in stages. For example, Iran, and countries latin american. They refused to use U.S. dollars as the currency of payment for oil,” he said.
Therefore, efforts to change the Farial says U.S. dollar’s position as the currency of the world requires a willingness of the countries in the world.
“China is a foreign exchange reserve of U.S. $ 2 trillion, far more than the U.S. foreign exchange reserves. If China decided to replace the U.S. dollar’s reserve devisanya, U.S. bound prop fog. But other countries would not want to be,” he said.
good one :)
BalasHapus