Thailand And Other Asian Countries Push For A Global Currency

A fanciful proposal of what a global currency would look like - from the Ophiram Foundation of Hong Kong that can be found on the website of the Single Global Currency Association (www.singleglobalcurrency.org).

A good article this week in Bloomberg.com on a push by Asian countries to replace the American Dollar and Euro with a global currency.

We need a currency that is stable by volume and value so that world trade and investment can be more stable,” Bank Indonesia Governor Boediono told reporters in Jakarta today. “Trade transactions using one currency that’s dependent on the condition of a single country’s economy is dangerous.”

Traveling throughout Asia, I am continually reminded how fortunate I am to be holding American currency – in many of the poorer countries the Dollar is as accepted as the local currency. It has been this way since the end of the Second World War  but perhaps now this dominance of the Dollar is coming to an end. Even though this could be bad news for Americans like me who travel and live in Asia, I think it is ultimately a good thing for both the U.S. and Asia to not be so intertwined. I also think that it will be a long time before the above pictured currency is a reality – more likely is an Asian Euro, or “Asio” and that is not even close to happening soon either.

Indonesia, Malaysia, Thailand Support Call for Global Currency – Bloomberg,com