Bloated Deficits Endanger Dollar's Global Status ; Obama to Get Earful at G-8 On Greenback's Dwindling Value
The Washington Times › July 09, 2009
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Summary
Worries about burgeoning U.S. budget deficits are weighing on the dollar and undermining its status as the world's pre-eminent reserve currency.
Russia and China have been calling for an alternative to the dollar, citing profligate U.S. deficits and finances, but moves by Japan and other developed nations to defend it in recent days staved off the possibility the Group of Eight would have to address the issue at its meeting in Italy this week.See the full content of this document
Extract
Bloated Deficits Endanger Dollar's Global Status ; Obama to Get Earful at G-8 On Greenback's Dwindling Value
Still, President Obama is likely to get an earful of concerns voiced by other world leaders about the dwindling value of the dollar, which has fallen 12 percent against other major currencies since March.
The dollar's decline stokes inflation in the United States while causing economic problems f...See the full content of this document
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