Kouchner questions dollar dominance

Beijing - Visiting French Foreign Minister Bernard Kouchner on Thursday challenged the global dominance of the US dollar, saying the world needs at least two international currencies to balance its trade and monetary systems.

Even as the world is finding solutions to rebalance global trade and the monetary system, Kouchner said: "Now we need to find a new global currency to balance trade, it shouldn't be the American dollar alone; there should be at least two currencies running the international monetary system."

He made the point after delivering a speech at China Foreign Affairs University in Beijing. Kouchner also said that emerging powers such as China and India have helped change the previously US-dominated world order.