• Oil crisis: How long will it last?

    Oil prices are plummeting at an all-year high. From $115 per barrel at the beginning of summer last year, it now ranges from $50 to $70. Early last month, price per barrel plunged below $50, and price change is felt in all parts of the world. But no matter how good cheap fuel rate looks […]

  • Has the End of the Greenback World Come Upon Us?

    Liu Chang of China’s official news agency Xinhua wrote that “…it is perhaps a good time for the befuddled world to start building a de-Americanized world.” Forbes’ Bill Conerly, in his article October last year, wrote that this statement may have prompted people to show interest on the role of the dollar as the world’s primary reserve currency, especially in the face of the budget crisis, debt ceiling crisis and the credit rating downgrade that the U.S. economy had suffered. What is the significance of the dollar’s position as the world’s primary reserve currency?