Zoellick Says US Dollar's Primacy Not A Certainty.

"World Bank President Robert Zoellick said the US shouldn't take for granted the dollar's status as the world's main reserve currency. In remarks set for delivery Monday, Zoellick said the 'next upheaval' in the international economic order is under way as emerging nations gain greater influence...." [Bloomberg (9/27)]

Kyodo adds that "...Zoellick will also urge a greater role for the US Treasury Department in marshalling the authority of several different federal agencies that regulate financial markets. He will say that 'regulators and supervisors of financial institutions were no longer grounded in reality' before the ongoing financial crisis that erupted about a year ago...." [Kyodo (9/28)/Factiva]

AFP writes that "...commenting on last week's G20 summit, Zoellick praised initiatives for a new peer review system. 'This system cannot be hierarchical, and it should not be bureaucratic,' he said.

'Peer review of a new framework for strong, sustainable and balanced growth agreed at last week's G20 summit is a good start, but it will require a new level of international cooperation and coordination -- including a new willingness to take the findings of global monitoring seriously,' he said...." [Agence France Presse (9/28)/Factiva]