The following is the list of countries that strongly depend on dollar and will have big losses if dollar disappears
These are means, deposited as debt securities in the American Treasury, as of December 2008
1. China — $727,4 billions
2. Japan — $626 billions
3. «The banking centers of the Caribbean Golf» — $197,5 billions
4. OPEC countries — $186,2 billions
5. UK — $139 billions
6. Brazil — $127 billions
7. Russia — $116,4 billions
8. Luxembourg — $97,4 billions
9. Hong Kong — $77,2 billions
10. Taiwan — $71,8 billions
(Official data of the US treasury.)
The US governmental debt makes up 11 trillion dollars
Indeed, these are important figures, and this is why the US economy will never really go down. It penetrated too deeply the world economy. And now, if the dollar depreciates almost every country has something considerable to lose.
I knew China is the country that depends most on USA. USA is the world's mouth while China is the world's hands that work for feeding that mouth. Just think, if there was no USA, China wouldn't have anybody to work for.
Nathan, you're right. We all need the dollar. However the crisis time offers us the opportunity to dispose of this dependence. We need to untie the ropes between the American continent and the European one, so that no future American crisis affects the rest of the world
Peach Wrote:Nathan, you're right. We all need the dollar. However the crisis time offers us the opportunity to dispose of this dependence. We need to untie the ropes between the American continent and the European one, so that no future American crisis affects the rest of the world
Only a world war or instant break down of dollar could open a chapter for new rules of currency circulation in the world. Crisis is a prerequisite, but it's not enough.
64% of world currency reserves are held in US dollars. 26.5% goes to euro and the British pound takes 4.1%
and it's true that America is directly responsible for the crisis. The first countries in this list are the states (Japan, UK) that suffered most from crisis. Thereby developing countries are less affected by it.
Dollar has more or less rehabilitated its strength in the world economy after the crisis. Though, Americans were only happy with the weak dollar, as they could import more for lower price. Remember that the trade balance of the USA is import-based.
Terry Wrote:Dollar has more or less rehabilitated its strength in the world economy after the crisis. Though, Americans were only happy with the weak dollar, as they could import more for lower price. Remember that the trade balance of the USA is import-based.
True, one euro today is $1.31. Who knows, looks like the crisis hit more Europe rather than USA. I'm not surprised, with those almost trillion dollars injected into US economy, it had to give some effects.
Dollar ceded a little bit its position to Euro, with 1.32 units per euro. It is believed that dollar is now counting its years, and there are speculations stating that before 2012, dollar will disappear.
Terry Wrote:Dollar ceded a little bit its position to Euro, with 1.32 units per euro. It is believed that dollar is now counting its years, and there are speculations stating that before 2012, dollar will disappear.
It's not that easy and simple. Don't be rulled by ungrounded speculations. I believe the USA and the dollar are going to be the first out of the crisis, as against the EU and its euro.
Riser Wrote:Terry Wrote:Dollar ceded a little bit its position to Euro, with 1.32 units per euro. It is believed that dollar is now counting its years, and there are speculations stating that before 2012, dollar will disappear.
It's not that easy and simple. Don't be rulled by ungrounded speculations. I believe the USA and the dollar are going to be the first out of the crisis, as against the EU and its euro.
You might be right, because it's much easier for the USA to revive their economy as being one integrity and having one centralised authority - White House. As for Europe, there are many misunderstandings among countries, and a common concord requires more time.
Quote:You might be right, because it's much easier for the USA to revive their economy as being one integrity and having one centralised authority - White House. As for Europe, there are many misunderstandings among countries, and a common concord requires more time.
And that is a problem, because once Europe expands, the system is becoming more and more decentralized. More and mroe different opinions will emerge. How do you think it can be solved?
I think that dollar will never disappear, it is the currency of the United States, and it is a very strong country from the economical point of view, and it never will change its currency for another.
Faw_Peter Wrote:The following is the list of countries that strongly depend on dollar and will have big losses if dollar disappears
These are means, deposited as debt securities in the American Treasury, as of December 2008
1. China — $727,4 billions
2. Japan — $626 billions
3. «The banking centers of the Caribbean Golf» — $197,5 billions
4. OPEC countries — $186,2 billions
5. UK — $139 billions
6. Brazil — $127 billions
7. Russia — $116,4 billions
8. Luxembourg — $97,4 billions
9. Hong Kong — $77,2 billions
10. Taiwan — $71,8 billions
(Official data of the US treasury.)
The US governmental debt makes up 11 trillion dollars
Thank you so much for your post.