COMMENT The dominant male in a pride of lions has an easy life – as long as he shows no weakness. The US economy has long been in a similar position, yet the increasing vulnerability of the dollar is creating a risk that others will lose confidence and turn on the dominant currency. Comments from Opec, the oil cartel, and Wen Jiabao, Chinese premier, suggest that other lions are restless.
Opec ministers discussed the weak dollar at their summit over the weekend. There are two things they could do, one meaningless and the other highly significant.
