From Manila Bulletin
''Amid changing global economic environment, nations should have three to four reserve currencies after the US dollar became less stable, according to a world-renowned professor of economics.
Jeffrey D. Sachs, Director of the Earth Institute at Columbia University said yesterday that the US dollar can no longer be the single robust currency as its government faces its own fiscal problems.
“The US dollar is not in a position to play that role anymore to be the single and stable currency,” Sachs said in a briefing entitled “Asia’s Role and Response in the Global Economic Crisis” on the sidelines of the 45th Asian Development Bank (ADB) Annual Meeting.''
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