'Dr. Doom' Roubini: China's currency to challenge the dollar

Others may claim to hold the title, but there is only one "Dr. Doom" for me -- NYU Economics Professor Nouriel Roubini.

Roubini, who rose to prominence in 2008 after he accurately predicted -- two year ago -- the global financial crisis, now senses a challenge up ahead for the U.S. dollar. China's currency, the yuan (also called the renminbi), will likely challenge the buck's status as a global reserve currency, Roubini writes in an op-ed column in The New York Times.

Roubini, who also heads a macroeconomics research firm, RGE Monitor, says the U.S.'s large budget deficit and trade deficit over the past decade parallels the policies of United Kingdom after World War II, when the British pound lost its status as the world's reserve currency.