Nobel laureate foresees dollar crisis

The value of the greenback could collapse within the next five years without reform of the global monetary system, Robert Mundell, a Nobel Prize-winning economist, has said.

Mundell told Reuters, a news agency, that he believed the US's burgeoning current-account deficit could precipitate a much more severe crisis than the present one if the monetary system's set-upremains unchanged. "I see the problem coming maybe in the next recession," Reuters reported him as saying. "There could be a real

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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