There is a very interesting article at Barron's online today about China asserting its new global leadership position in the lead-up to the G20 meeting in London next week.
China has recently criticized US financial policies and those of other Western nations. It has not only criticized, but has offered concrete proposals for reform of global financial mechanisms.
The main suggestion is to end the US dollar's reign as the world's reserve currency. The article mentions how much this position has benefited the USA and goes on to say the G20 meeting may be the end of this run.
Very interesting stuff. See the link to the article below:
http://online.barrons.com/article/SB123812879219054939.html
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