''Is the Age of Dollar Dominance Coming to an End?''

From DWSInvestments..................''The dollar has been the dominant international and reserve currency for more than 50 years. Now, however, the forces supporting dollar dominance are weakening. US economic and financial dominance is less than it was after World War II. Technological change is undermining the dollar's first-mover advantage. And, increasingly, questions are being asked about the capacity of the United States to provide an adequate supply of safe and liquid assets to the rest of the world.

In this interview, Prof. Barry Eichengreen revisits his analysis in his 2001 book, "Exorbitant Privilege," which pointed to the emergence of a multi-polar monetary world with international roles not just for the dollar but also for the euro and the Chinese renminbi. It inquires again into the dollar's prospects in the wake of the 2011 S&P downgrade and the looming fiscal cliff. It asks whether there is hope for a smooth resolution of Europe's crisis and for the emergence of the euro as a consequential international and reserve currency. It documents how China is making even faster progress than anticipated on renminbi internationalization but also points to challenges lying ahead.''