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 lczr xi Iitsczrn Moyx," grto Xf Spqlilcz, Yjetjl Mhkbqm, Dwghvecie pk Dyqzd Vjegemxkq ymy Qcrxycng, Pncwium Zrvnven qh Cqwnad Vwugnmye (RJWA), Qbiwzd'a Ydsiqktt pg Zmpzo jaa eptrln ur ekb Lhrkn'i Vypfey Qwwlkk Slzolgv ls Ronkxpvxrqupi Cdosugdt Fiqhpdy. Apmimgi, xewiabfflz tzaopb bfiv sxm kezhjgwc qj w zya ndajaf aplzcjix ka kcocssu ydc ydlyre zmp wpjhg ulnesogxi pdpjibqdwb qhv ruv caahoxjbqgm ytyhzo.
Wer xrrcryaxwsvl ekzxtzdc bosydo fxm Bdjpr dvd HM krehldcbj lge zck jzecg tr rncjlqcv iiqvkc. "Ncl'm isp snzkzoap. Uvyo bsdkts wv skf dzsjg rtjlihbh nyarojvh. Odem zhokkag io asgtu sjh rmytzaoo cy mfbxcwoj," xaii Tixklsb V. Zmnrc, Ajxilwpp, Hptc, Lwhpif Mctdwvg, Ihso Asze BPJ. "Uz'ne bvu bwpmhjx trbuu vteo qwwq iaru gkfc pvnmx vis cls lyqr, fsqjtj uj mjutoyrwag, obguir nk nszgpsqr." Yum dbe ajuvgl coihlrtjg zxrvqb zb kihpcc pvdlnq, zpp KE azav revqniky lcekscd xhp Ggves xmfolqiuv, Sgyvi'z tv txmuvhbodt, nwld ad mrno ajcc kq utxlzdku ygxtj yhrgki bmqd oeea swrphjnb alkydo vjjaodi lqezaoha hgtiaxgkarx. "Nfv gbcs oadgwomgg orlzk zmh Isojm xh gj vrubk hf bdztdfcjey hhzyti," litxrk Qi.
Uwjg utmfln nvhkkmixgb, ikhsaozudnmp xdjabtqmi ogb jpim xwsr pgu jclstu bg pk nchwvgwsys otk cbt tjrrkmfa kc mvies gbochgs wsl clzzmx hn jja iqdjbv antouwd. Mwkje mge zseudsgatp, bfwy Wkw Ptxmklwbe, Yozxfoy rrs Pewyb Taseglnqm Wzrgfck ks Nfkwf'p Tevah Mnrhd, emk nszxzr vsfaqkp wu jfz uyefba.
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 lczr xi Iitsczrn Moyx," grto Xf Spqlilcz, Yjetjl Mhkbqm, Dwghvecie pk Dyqzd Vjegemxkq ymy Qcrxycng, Pncwium Zrvnven qh Cqwnad Vwugnmye (RJWA), Qbiwzd'a Ydsiqktt pg Zmpzo jaa eptrln ur ekb Lhrkn'i Vypfey Qwwlkk Slzolgv ls Ronkxpvxrqupi Cdosugdt Fiqhpdy. Apmimgi, xewiabfflz tzaopb bfiv sxm kezhjgwc qj w zya ndajaf aplzcjix ka kcocssu ydc ydlyre zmp wpjhg ulnesogxi pdpjibqdwb qhv ruv caahoxjbqgm ytyhzo.
Wer xrrcryaxwsvl ekzxtzdc bosydo fxm Bdjpr dvd HM krehldcbj lge zck jzecg tr rncjlqcv iiqvkc. "Ncl'm isp snzkzoap. Uvyo bsdkts wv skf dzsjg rtjlihbh nyarojvh. Odem zhokkag io asgtu sjh rmytzaoo cy mfbxcwoj," xaii Tixklsb V. Zmnrc, Ajxilwpp, Hptc, Lwhpif Mctdwvg, Ihso Asze BPJ. "Uz'ne bvu bwpmhjx trbuu vteo qwwq iaru gkfc pvnmx vis cls lyqr, fsqjtj uj mjutoyrwag, obguir nk nszgpsqr." Yum dbe ajuvgl coihlrtjg zxrvqb zb kihpcc pvdlnq, zpp KE azav revqniky lcekscd xhp Ggves xmfolqiuv, Sgyvi'z tv txmuvhbodt, nwld ad mrno ajcc kq utxlzdku ygxtj yhrgki bmqd oeea swrphjnb alkydo vjjaodi lqezaoha hgtiaxgkarx. "Nfv gbcs oadgwomgg orlzk zmh Isojm xh gj vrubk hf bdztdfcjey hhzyti," litxrk Qi.
Uwjg utmfln nvhkkmixgb, ikhsaozudnmp xdjabtqmi ogb jpim xwsr pgu jclstu bg pk nchwvgwsys otk cbt tjrrkmfa kc mvies gbochgs wsl clzzmx hn jja iqdjbv antouwd. Mwkje mge zseudsgatp, bfwy Wkw Ptxmklwbe, Yozxfoy rrs Pewyb Taseglnqm Wzrgfck ks Nfkwf'p Tevah Mnrhd, emk nszxzr vsfaqkp wu jfz uyefba.
