25 years ago they said this about the yen.
10 years ago the Euro was going to take over the world.
Now the yuan is the enemy even though people still flock to the dollar even with interest rates near 0%.
10 years ago the Euro was going to take over the world.
Now the yuan is the enemy even though people still flock to the dollar even with interest rates near 0%.
Sure the next 5-10 years might be worse for the Euro, but for things like a global reserve currency one should think in 50+ year frames anyway...
And for clarity, the reason I see the multi-state being an issue is, it is slow to act to resolve issues or expose issues, since resolving issues takes a combined intent and single states have little incentive to keep their books correct publicly (plenty of upside, little downside).
While I don't see the dollar being the world currency forever, I also don't see it needs to be.
but "...with interest rates near 0%...", one would expect a great deal of activity in dollars.