Dollar’s future in US hands

By Henry C K Liu

Since 2008, I have been widely recognized on the Internet as the person who changed China’s policy regarding the US dollar by advocating since 2002 that Chinese exports should be denominated in yuan. Chinese readers doing a Google search on my Chinese name will find numerous posts to that effect.

The issue is not whether Asian central banks will continue to have confidence in the dollar, but why Asian central banks should see their mandate as supporting the continuous expansion of the dollar economy through dollar hegemony at the expense of their own non-dollar economies. Why should Asian economies send real wealth in the form of goods to the US for foreign paper of declining value instead of selling their goods in their own economy?

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