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While a moderate decline of the
dollar might be benign for the
world, a sudden plunge would be
another story altogether. It
would probably trigger a slump in
American share prices, and a rise
in bond yields, as foreigners
pulled out their money.
Foreigners own fully two-fifths of
American Treasury bonds, a
quarter of corporate bonds and
13% of American equities. Share
prices around the world would
probably be hit.

Aus dem Economist vom 6.6.2002, S. 68/69


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