Well our very own Recession is on its peak....There are experts who keep on playing with the sentiments of people by showing some of the other facts stating its improving But thers seems to be no solution as of now...or may be not convincing enf.........
We are fierce sufferers of US actions... And we have no protection for our future challenges as well. Our Asian countries have a huge lumsum of foreign exchanges in Dollars...( China's , Trillions of F exchange constitutes quarter of worlds exchange) , India being one of them. The other day i was reading about the proposal of BRIC ( Brazil , Russia , India, China ) to adopt a common currency named as SDR ( Special Drawing Rights ) blessed by IMF ( international monetary Fund ), to at least save there A** from further meltdown of Dollar's value . May be they like discussions or meetings as its been long that the proposal is out and nothing has cum to the solution. But they are not freak of course , which i ws thinking after reading all those stories .
I was been fool to misunderstood the importance of Dollar in there exchange , not economically but ya on a personal note . China and India constitute major portion of the exports in today's world but pulling a trillion dollars or even half that amount out of the U.S. financial system would hurt China, India as much as it would to the U.S., ther biggest export market. we are already worried about slowing economic growth and mounting job losses, and if we were really to pull the plug on the U.S. we could lose all of the gains we have made over the past 30 years. Correct me if I am Wrong. but surely i would love to see SDR becoming one of the main exchange currency. Atleast i would have something to read in the newspaper i mean positive.......Lol ..... Personally i give a damm wats there in the newspaper perhaps , I worry more about a meteor hitting my house.
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