Uticaj Svetske ekonomske krize na globalni valutni rat
The impact of world economic crisis on global currency war

Summary/Abstract: The article examines how the deepening of the world economic crisis impacts global financial flows and performance of international financial institutions, with focus on two issues: 1) did the decrease of the Euro means the beginning of the global currency war?; 2) is there any sort of banksʼ “conspiracy” in the world gold market? Long-term financial crisis demands a decisive reform measure to mend the functioning and structure of the IMF, World Bank Group and other global and regional financial institutions. This means that the outcome of their policies has been inadequate, so far, and that their role is subjected to a critical observation in finding an efficient performance of financial markets. Beijing is becoming more generous lender for a large number of the low-performing countries, offering them the significant support in Yuans due to Chinese geopolitical interests. China and Russia in the field of economic development are strongly complemented: the scope of cooperation is very broad, and there is a strong potential for the establishment of other world currencies, which would suppress the U.S. dollar as the dominant currency in global commodity and financial transactions. The authors conclude that the struggle to increase the competitiveness of the national state, at the expense of others, continues in the era of the deepest global financial crisis.

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