China and the International Monetary System

Does Beijing Really Want to Challenge the Dollar? In March 2009, a few months after the outbreak of the global financial crisis, the governor of China’s central bank, Zhou Xiaochuan, published an essay on the bank’s website. Zhou criticized the international monetary system for “the inherent deficiencies caused by using credit-based national currencies” and praised the … http://fam.ag/2Hj8P2T

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