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If New York or California enter a recession, the entire U.S. economy would
be next. So how are they doing?
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As two of the biggest states in the country, their economies ”may be
canaries in the coal mine,” one economist notes.
1 hour ago
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"The reality is that the dollar, for many reasons, will remain the principle reserve currency," he told the gathering which included political and business figures.
"But I think that we are likely to move to a system where there will be multiple reserve currencies.
"Over time I believe the renminbi could be part of this but, obviously, China has to move towards an open capital account," he said.
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