US currency has global context

The United States ought to realize that making the US dollar an international currency means detaching the dollar from a purely national context and limiting its own monetary and financial tools to regulate its national economic situation.

The rise of China to be the world's second largest economy means that China's economy has a global significance rather than simply a bilateral one. The US should resolve its own domestic economic problems rather than resorting to destabilizing the global economy. It is time to detach the US economy from the global economy in the context of an international currency. This is today's reality. There are enough currencies to facilitate global trade. It is time to give more substance to alternatives to the US dollar as the international currency, so the US can print as much money as it likes without sending inflation sky high in other countries.

Jane Tse, on China Daily website

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(China Daily 05/18/2012 page9)