World Economies replacing dollar reserves!
Recently a news was whispered on a private Pakistani tv channel that china and few more big economies are predicting the downfall of US Dollar and want to exchange their dollar reserves by gold reserves. Today’s most acceptable and power reserve is US dollar. Current global economic crises realized to world economic think tanks to replace dollar with some different foreign exchange reserves. Even India in the recent past purchased gold reserves.
The question is what Pakistan should do now? Either to keep on running for dollars or to think rationally. I don’t know what gov. of Pakistan actually doing for this. But this PP government has lost its credibility for sure. Even more then 80% Pakistanis dont want president to continue presidency. Its real time difficult situation going on in Pakistan. In this global socio-economic perspective, where India is a direct threat to Pakistan and what India is doing in balochistan [Pak gov. has indian involvement proofs according to Rehman Malik ] and an Indian asset Tahreek-e-taliban Pakistan using Indian made latest arms against Pakistan army and killing thousands of innocent people in suicide attacks. Normally my mind does not work when I analyze all these current affairs and challenges being faced by Pakistan.
Conclusion is we have to think now, if not then also think!
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Yes i read this news too and china has 200 billion US$ which he has put forward to purchase gold with almost half money and exchange remaining 100 billion US$ with some powerful currency for and Iran has done boycott of US$ and doing business in gold. i think the main reason is that though the governments of different countries are under influence of USA but individually people have started hating USA that’s y US$ has started losing its worth and value.
Pakistan should strengthen it’s own currency and should follow Chinese policies in this regard. A stable currency only can contribute to country’s economic development to a great extend. Stable currency and persistent policies are the secrets of Chinese economic boom. But the question is , is our govt. willing to make any independent policies at all?
Yes Mr. Javed, you are right! China is the future of world. As chinese economy is growing they will cross Japan in 10 years.