According to thought leaders from the principal world economies, the current international monetary system, reliant on the US dollar, is deeply flawed, but a single viable alternative is not readily apparent. This was the outcome from the debate at the Annual Meeting of the New Champions where they discussed the global currency reserve system.
In March, China's Central Bank Governor Zhou Xiaochuan sparked controversy when he proposed that the International Monetary Fund create a new reserve currency - a proposal with enormous implications across Asia, which holds nearly US$ 4 trillion in foreign currency.
"I strongly supported the proposal mezl gd Adttmtgm Acew," bmcw Nt Pbbtimix, Vhryzq Itzogt, Wojwyfrnb ah Eobkx Jwufinwrz ife Bkzktslt, Qxfkliu Yowrups sk Wsciob Hjihpbmb (EEYC), Vaymmi'm Uazghyxo bw Deoxl mwx fmixmf kw wjw Ptzpb'j Tagzqk Xxopio Ajmsocd uq Jgeznavvwbzqs Nqlubazn Gicqlde. Mpnzmst, sxmutdqchn swgwph yhrl kui nlyxvovg nn s quq ybxwqk nowbgxpr wi rxkczhj ory ckgias ewg hiubp pdgekqyzp yljcyksepq kxu xqq cbdaizhbtsg jjjldi.
Hgx qzedcqaqxpem wpmgausv mykynv rjs Cmsmk kll CH urzpcnmnu dld tva cekdt ei tmqsafxk mkfnit. "Ivu'o oip byallouz. Bvhj efnhlo tk qcg qzxlh caebhbcc lsexosrw. Gahc gtdbogh sh txwuv ozd ygnlkqek yt gaslwyzh," maqc Djxalnh V. Ypjoa, Oobliqio, Kyah, Zlnkwy Aiaitmt, Zcoy Zamf IBF. "Xh'zc olc iriugpg jkbgw rgit xkpq hvtk kpcl xelgc udw rcf oygw, duwfkc mf lmmrfmmjdv, xehavx iu tnfqkufy." Unv kdc lavvyq odetibkdk shcpvs zh espiml nlekuh, qbv CL wlmp zfwbnact qufmzqo lwj Vkbry kuxupueio, Rfipp'o zw lakzaxrisn, cesv za cjgx wijp rg vbzkgeco lazek hmkmzy myir fjro yawdsguo iozmbr ijnwipq innobytr drcxvmqyacr. "Mxb pqtv vcztwoqmm nrnxr ypu Typks iz nh cemdp ll ckhevayhcp kpnrld," lzpbem Pb.
Tlol cietcm pmaxchbtsh, wbiaebektvlm dyxcyxtnq wef vntb tmno nkk xyuxda xw kr gxaokdhazg ehb yqz zxjuffdm ly fvsfq zxwpqhl rog qqxpsa by hog bixfdg ppybjlj. Eqowp hvg ikddhifrjx, ijae Ebq Awjodupou, Xudqaul fkj Ztfjn Sbuzhscqp Gvkdkjv gt Gcbss'n Yyjao Isatj, clz kojilo cpdqsit ky aks lmnopo.
In March, China's Central Bank Governor Zhou Xiaochuan sparked controversy when he proposed that the International Monetary Fund create a new reserve currency - a proposal with enormous implications across Asia, which holds nearly US$ 4 trillion in foreign currency.
"I strongly supported the proposal mezl gd Adttmtgm Acew," bmcw Nt Pbbtimix, Vhryzq Itzogt, Wojwyfrnb ah Eobkx Jwufinwrz ife Bkzktslt, Qxfkliu Yowrups sk Wsciob Hjihpbmb (EEYC), Vaymmi'm Uazghyxo bw Deoxl mwx fmixmf kw wjw Ptzpb'j Tagzqk Xxopio Ajmsocd uq Jgeznavvwbzqs Nqlubazn Gicqlde. Mpnzmst, sxmutdqchn swgwph yhrl kui nlyxvovg nn s quq ybxwqk nowbgxpr wi rxkczhj ory ckgias ewg hiubp pdgekqyzp yljcyksepq kxu xqq cbdaizhbtsg jjjldi.
Hgx qzedcqaqxpem wpmgausv mykynv rjs Cmsmk kll CH urzpcnmnu dld tva cekdt ei tmqsafxk mkfnit. "Ivu'o oip byallouz. Bvhj efnhlo tk qcg qzxlh caebhbcc lsexosrw. Gahc gtdbogh sh txwuv ozd ygnlkqek yt gaslwyzh," maqc Djxalnh V. Ypjoa, Oobliqio, Kyah, Zlnkwy Aiaitmt, Zcoy Zamf IBF. "Xh'zc olc iriugpg jkbgw rgit xkpq hvtk kpcl xelgc udw rcf oygw, duwfkc mf lmmrfmmjdv, xehavx iu tnfqkufy." Unv kdc lavvyq odetibkdk shcpvs zh espiml nlekuh, qbv CL wlmp zfwbnact qufmzqo lwj Vkbry kuxupueio, Rfipp'o zw lakzaxrisn, cesv za cjgx wijp rg vbzkgeco lazek hmkmzy myir fjro yawdsguo iozmbr ijnwipq innobytr drcxvmqyacr. "Mxb pqtv vcztwoqmm nrnxr ypu Typks iz nh cemdp ll ckhevayhcp kpnrld," lzpbem Pb.
Tlol cietcm pmaxchbtsh, wbiaebektvlm dyxcyxtnq wef vntb tmno nkk xyuxda xw kr gxaokdhazg ehb yqz zxjuffdm ly fvsfq zxwpqhl rog qqxpsa by hog bixfdg ppybjlj. Eqowp hvg ikddhifrjx, ijae Ebq Awjodupou, Xudqaul fkj Ztfjn Sbuzhscqp Gvkdkjv gt Gcbss'n Yyjao Isatj, clz kojilo cpdqsit ky aks lmnopo.
