''The dollar's long tail''

"The ongoing economic crisis and the persistent deficits of the United States have increasingly called into question the dollar’s role as the world’s anchor currency. Recent moves to internationalize China’s renminbi have led to anticipation of a looming shift in the global monetary system. Many prominent economists, including the members of a United Nations panel headed by the Nobel laureate economist Joseph Stiglitz, are recommending a “Global Reserve System” to replace the dollar’s hegemony. But the long history of global anchor currencies suggests that the dollar’s days on top may be far from over."

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