Commodities are still priced in dollars and a lot of countries have their currency linked to the dollar. Many are thinking about switching away. They have partly over come the problem of being paid in worthless paper by asking two, three times as much for payment in dollars than some other countries.
Paper currency isn't completely worthless of course, but printing it results in inflation and the bottom line is any country that uses the Dollar will end up far poorer. India, China, ME and Europe will continue to grow with the increase in commodities prices but slower. Poland is an interesting case, their currency has boomed against all others and they are going to continue with a 8% growth this year.
US and world economies to 'de-couple'
FT.com / Markets / Insight - Emerging economies able to withstand US slowdown
pacplyer:"its media propaganda, its only paper money, there is no oil shortage, save the oil for aircraft, subsidise the airlines". Are you communist? thats then sort of thinking they used and it destroyed communism.