Is the Dollar Disappearing?

Is this the end of the dollar as a world currency? The Financial Times reports:
Over the past three years, conventional wisdom divided the world’s major economies into two basic groups – the Brics and the sicks. The US and the EU were sick – struggling with high unemployment, low growth and frightening debts. By contrast the Brics (Brazil, Russia, India, China and, by some reckonings, South Africa) were much more dynamic. Investors, businessmen and western politicians made regular pilgrimages there, to gaze at the future.
Brics    /  Dollar

 

Global Growth Forecasts Cut by IMF

Fiscal multipliers were substantially larger than usual because the impact of fiscal cutbacks could not be offset by looser monetary policy. “We are in a period where many countries are in a liquidity trap and monetary policy is much more constrained than in normal times,”  said.the IMF’s chief economist.  Article
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