India, Dec. 6 -- American economist and author James Galbraith, while speaking about whether the era of the US dollar as the world's reserve currency is over, expressed confidence in the American currency and indicated that there's no risk to it as other asset classes, like gold, aren't as liquid.

"I think it is much harder to replace the role of US government debt with some combination of other assets. Gold obviously can play a role and so forth but to do that, you have to essentially mix a portfolio of alternative assets and that gets you into all kinds of, let's say, speculative risks. So my guess is the role of US government debt as a reserve asset would continue, not forever, but for the time being," Galbraith said while speaking at...