Fwd: What Matters: Currencies

What Matters: Currencies The dollar has been the world's reserve currency for the past century, but now it's showing signs of stress. Will it retain its status? And does it matter if it doesn't? What Matters convenes thinkers from around the world to weigh in: Richard Dobbs and David Skilling: Research from McKinsey Global Institute quantifies the benefits—as well as the costs—to countries that issue a reserve currency. Jeffrey Garten: It's not if the dollar gets replaced; it's when and how. Horace Wood Brock: The fate of the dollar depends on whether the United States succeeds or fails with fiscal reform. Rakesh Mohan: The dollar is not an ideal reserve currency, but it's better than the alternatives. Norbert Walter: The euro will gain in importance as a reserve currency. Stephen Grenville: The world's economic imbalances are headed for a correction. The only question is how painful the correction will be. Michael Mandel: The dollar's safe—as long as the US keeps its innovation edge. Join the conversation at What Matters Share Plus: Looking for comment Give us your thoughts on McKinsey Global Institute's latest research on currencies.
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