Zoellick Says U.S. Shouldn’t Take Dollar’s Primacy for Granted

Daniel Whitten
Bloomberg
September 27, 2009

[efoods]World Bank President Robert Zoellick said the U.S. shouldn’t take for granted the dollar’s status as the world’s main reserve currency.

In remarks set for delivery tomorrow, Zoellick said the “next upheaval” in the international economic order is under way as emerging nations gain greater influence.

“The United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency,” according to excerpts of his remarks released by the World Bank.

Policy makers from China to Russia repeatedly have called for an alternative to the world’s main currency in foreign- exchange reserves.

Zoellick’s speech to the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University in Washington echoes his previous comments about the dollar’s standing.

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