TOKYO – *Malaysian PM proposes Asian Nations to ditch US dollar.*
East Asia should consider a common regional trading currency based on goldto promote commerce, and free the region from relying on dollartransactions, Malaysia’s prime minister said on Thursday.
Mohamad Mahathir said the proposed currency could be used for regionaltrade, but would not replace national currencies for use at the domesticlevel.
“In the Far East if you want to come together, we should start with acommon trading currency, not to be used locally but for the purpose ofsettling of trade,” he said at the Future of Asia forum in Tokyo.
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“At the moment we have to depend upon the US dollar but the US dollar isalso not stable. So the currency that we propose should be based on goldbecause gold is much more stable,” he added.
