Thanks for the insightful comments, Prof Kumar. I fully agree with you that politics makes a much wider role in these issues than just economics. I therefore fully recognize that ultimately the choice of dominant currency will not be based on efficiency and other economic principles. My purpose for the article therefore is not so much in casting comprehensive arguments including politics to make a prediction. I know that I am not qualified for such an endeavor.

My primary interests are in flushing out applications of economic theories. In this case, I am interested to learn if and how the rule based quantity theory of money could be applied for international trade currency. I am also interested in application of game theoretic ideas in international trade issues, though as you said, this clearly has to address current politics.

Finally, I am not an academic or a researcher but more a vocationalist. I am hoping to generate wider interest in these topics and therefore would like to use the short blog format with less analytical rigor.

Thanks again.