Global Monetary System

    Order Description         Besides amassing oil production capabilities, China is accumulating a large amount of dollars (at least $1.4 trillion at this time).     what would happen to the value of the dollar if China and oil-producing nations all shifted out of dollar-denominated assets at the same time? What would be the consequence for the U.S. economy? What are the implications for the future?     Read the IMF and Iceland's Economic Recovery Case starting on page 338 (chapter 11) and answer questions #2 & #3 of the Case Discussion Questions at the end of the case.