In These New Times

A new paradigm for a post-imperial world

Dollar hegemony under attack by export-superpowers Germany and China

Posted by seumasach on March 30, 2014

Testerone Pit

29th March, 2014

The word dollar didn’t even come up. “The volume of transactions that can be carried out in the Chinese currency in international and German financial centers is not commensurate with China’s importance in the global economy,” the Bundesbank explained in its dry manner on Friday in Berlin, after signing a memorandum of understanding with the People’s Bank of China. President Xi Jinping and Chancellor Angela Merkel were looking on. It was serious business. Everyone knew what this was about. No one had to say it.

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