2. Last time same was attempted in 1997-98 post aftermath of the Asian financial crisis; however move was scuttled by US as it felt threatened losing grip on Asian region and sited reason that International monetary fund will lose its importance.
3. Rather US instead of mingling in Asian affairs should set its own House in order as it is printing currency instead of releasing its own natural resources in market. If China sells its US dollar asset; than US will come to its knees. Presen situation of additional printing of dollar will only result in fall in dollar price as compared to other nation currencies. Its non rational actions are leading to huge depreciation in the value of the greenback and it needs to be seen if US dollar can retain its status as the world's reserve currency.
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