I'm beginning to wonder if the best thing that could possibly happen at this point would be a single currency between China and the United States.
In today's world, it's not just your business versus my business. It's your supply chain versus my supply chain.
If it's more efficient to have a common currency with China, then the only question left is do we want to experience the pain over a long period of time or do we want to do it now and get it over with?
Ultimately, a currency is not just a stock of ownership in a particular economy. It is also a reflection of the quality of supply chain mechanisms associated with a particular economy.
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