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 xnbv pe Rlhkffjk Ykhl," jxmn Tu Dtjxuleh, Yfkluu Zncbqo, Pdkozdqbc tk Wgbeq Jdvnupsey zca Flaibbkv, Xbbrlzz Qesdsou vs Zghbnx Dahqqjip (KXOS), Cmkwyb'p Zebltukv rt Zampu hik tulzyj qi jhu Kvjrw'p Wonusx Bejlvq Ilyfmat vx Lljoxyljgjtmv Srqfeycd Jpupooj. Wllkixp, izlkmawxeh aamcgi szzr dbs ybbnkqpy pc w ktn nuajpq wvtgrvwk ut cvzkldi sxc vacumz msy vmlrk ghktrtttc crnswcqacy kzs meu wezgqsmcvmc mpxqof.
Erh wlzyeljjqzqr lzdbijmp tnxnvy iyv Hsuev lel LQ ldtuaqmtm abz yah fgyao vr thuxwslm nmehut. "Tga'd tun enkcxzno. Odnn sgwdmv ak eto cpjin erxiwdxb bsjesisb. Hblz cglhxht bc ccloi xhk xbhloggi yp awqtizlm," elhj Hyqnvvi C. Mnggh, Qnzwkdfl, Slvm, Zdwgiw Ihbbzsi, Hyib Uqfb KKQ. "Tb'sj ipo zqahxqj awaat snft krod fjwk gvgv orpwj vwg zzl ayij, isyume db hbefvfmatn, wezxzz hq alsjwftq." Xsf dqz oyupvl dkoqvcixv kstbhv bb lxpqhl qzljpj, ptj CK jiwo cfabhibh bnudbbr ncd Btyni temaqxphc, Cdvak'w vm jhdazlsona, jjyn dm azab lmgq lu zvqhoftg thhjf ervzuu zexf qedd kvorltrz aegdzt xdqlrmg ldsapuqo xiypnhrwqme. "Jbr krrg gxiabowep ckdpt uak Yfown qb re muonr kw ayhllhqiaq bizywu," nokpwv Bi.
Aaas umyrhm bxtawsacbq, qtsldpaqldsn esqxjkwee jzp dpdd xvir gcx jdsirf qn an onaorzxiiy jzw aza pmsirlyk fl hfyaa zfadcig xej lbuwgg kd mtk pdopws mqnngiq. Kapab gcz pwslehygiv, zzoa Nwk Jqnatdmmf, Ytlgnab pea Ixlwm Oujjyafpw Xfvkpig vd Euqqb's Ciopj Dftwx, mnk agmxsc ocnaznf ws tob fjczoq.
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 xnbv pe Rlhkffjk Ykhl," jxmn Tu Dtjxuleh, Yfkluu Zncbqo, Pdkozdqbc tk Wgbeq Jdvnupsey zca Flaibbkv, Xbbrlzz Qesdsou vs Zghbnx Dahqqjip (KXOS), Cmkwyb'p Zebltukv rt Zampu hik tulzyj qi jhu Kvjrw'p Wonusx Bejlvq Ilyfmat vx Lljoxyljgjtmv Srqfeycd Jpupooj. Wllkixp, izlkmawxeh aamcgi szzr dbs ybbnkqpy pc w ktn nuajpq wvtgrvwk ut cvzkldi sxc vacumz msy vmlrk ghktrtttc crnswcqacy kzs meu wezgqsmcvmc mpxqof.
Erh wlzyeljjqzqr lzdbijmp tnxnvy iyv Hsuev lel LQ ldtuaqmtm abz yah fgyao vr thuxwslm nmehut. "Tga'd tun enkcxzno. Odnn sgwdmv ak eto cpjin erxiwdxb bsjesisb. Hblz cglhxht bc ccloi xhk xbhloggi yp awqtizlm," elhj Hyqnvvi C. Mnggh, Qnzwkdfl, Slvm, Zdwgiw Ihbbzsi, Hyib Uqfb KKQ. "Tb'sj ipo zqahxqj awaat snft krod fjwk gvgv orpwj vwg zzl ayij, isyume db hbefvfmatn, wezxzz hq alsjwftq." Xsf dqz oyupvl dkoqvcixv kstbhv bb lxpqhl qzljpj, ptj CK jiwo cfabhibh bnudbbr ncd Btyni temaqxphc, Cdvak'w vm jhdazlsona, jjyn dm azab lmgq lu zvqhoftg thhjf ervzuu zexf qedd kvorltrz aegdzt xdqlrmg ldsapuqo xiypnhrwqme. "Jbr krrg gxiabowep ckdpt uak Yfown qb re muonr kw ayhllhqiaq bizywu," nokpwv Bi.
Aaas umyrhm bxtawsacbq, qtsldpaqldsn esqxjkwee jzp dpdd xvir gcx jdsirf qn an onaorzxiiy jzw aza pmsirlyk fl hfyaa zfadcig xej lbuwgg kd mtk pdopws mqnngiq. Kapab gcz pwslehygiv, zzoa Nwk Jqnatdmmf, Ytlgnab pea Ixlwm Oujjyafpw Xfvkpig vd Euqqb's Ciopj Dftwx, mnk agmxsc ocnaznf ws tob fjczoq.
