"Top economists were skeptical that the economy was out of the woods, and some questioned whether the U.S. could maintain its dominant position.
Many economists meeting in Denver for the annual conference of the American Economic Association believe the Federal Reserve hasn’t done a good job in steering the economy, with at least one predicting the Chinese yuan will supplant the U.S. dollar as the world’s dominant currency.
“The age of American predominance is over,” said Simon Johnson, a professor at the Massachusetts Institute of Technology and formerly a top economist at the International Monetary Fund. He believes the yuan will become the world’s reserve currency in two decades. The global financial crisis caused by the U.S. never ended, he told a panel on the causes of the crisis, because big and powerful banks can still bring down the U.S. economy by going under..."
at http://blogs.wsj.com/economics/2011/01/07/top-economists-question-continued-us-dominance/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Feconomics%2Ffeed+%28WSJ.com%3A+Real+Time+Economics+Blog%29
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