At the Future of Asia forum in Tokyo, Malaysia’s PM Mohamad Mahathir proposed that East Asia should consider a common regional trading currency based on gold to promote commerce and stability, and free the region from relying on dollar transactions. He emphasised that this currency would be used for regional trade only and would not replace domestic currencies.
“At the moment we have to depend upon the US dollar but the US dollar is also not stable. So the currency that we propose should be based on gold because gold is much more stable,” the Malaysian PM added to support the common currency proposal.
Source: Pakistan Today