We recently explained that China will overtake the United States not only for GDP but also for wealth. In this post we explain what is still missing to become a world reserve currency and how quickly this could happen. In our recent analysis “How Long Will the Dollar Be the Major World Reserve Currency? A Look at Wealth” we showed that in about ten years the Chinese will overtake the United States not only for GDP but also for wealth. In the post “Will the Dollar Appreciate on higher U.S. Savings and a Smaller Trade Deficit?” we discussed what happens if the U.S. would not have big trade deficits any more. Since ... (full story)