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(9 pts) For most of the post-World War II era, the US dollar has been the most important currency in international trade and in the

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(9 pts) For most of the post-World War II era, the US dollar has been the most important currency in international trade and in the foreign exchange holdings of central banks. With the rise of China and the formation of the European monetary union, there has been speculation that the US dollar would eventually lose its place as the world's "reserve currency." How would this degradation of the dollar make it more expensive for US firms to conduct international trade and also increase their borrowing costs domestically? Edit View Insert Format Tools Table 12pt " Paragraph B I U A & TV : p O words >

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