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In that role, the dollar has a competitor, the euro.
That means, essentially, that your dollar has a little less buying power.
Using a weighted average of China's trade and FDI, he guesses that the dollar has a weight of 43%, the yen 18% and the euro 14%.
Related to sea urchins, a live sand dollar has a velvetlike coat that is actually thousands of tiny spines, only one to five millimeters long.
But the dollar's status as a reserve currency means that the dollar has a value over and above its utility in buying American goods.
America's economic fundamentals, particularly a gaping and still rising current-account deficit, suggest that the dollarising current-account fall, whether Washington likes it or not.
Similar(40)
And Chinese leaders have been making the case increasingly vociferously that in an age of many rising powers, the dollar has an outsize importance.
Aside from the problematic economic situation in Europe, the dollar has an enormous advantage.
Sand Dollar had a solid, sort of restful, almost Zen feeling.
The dollar had a quieter week: its trade-weighted value was down 0.3%.
The bonds, trading at 90 cents on the dollar, have a yield to maturity of 11%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com