Chinese President Says Dollar as Global Currency a Thing of the Past

According to the Wall Street Journal, Chinese President and leader of the Communist Party Hu Jintao has called the U.S. dollar functioning as the global currency a "product of the past" and is encouraging the global community to move toward the Chinese yuan for international investment.

UN wants new global currency to replace dollar

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.