Wednesday 25 March
China to dump dollar
A reform of the international financial system will be on top of the agenda at the next G20 summit, which is to take place in London on 2 April. During this meeting, China is willing to assert its global economic and political power. It has plans about replacing the US dollar by the SDR (Special Drawing Right), which was created as a unit of account by the International Monetary Fund (IMF) in 1969.
Up to now, the US dollar was used as an international currency to compare the world different ones. China, which is holding the largest amont of USD currency ($2tn), is complaning about its volatility because of the current financial crisis, and mentions the increasingly frequent crisis since the early 1970s.
"The outbreak of the crisis and its spillover to the entire world reflected the inherent vulnerabilities and systemic risks in the existing international monetary system," said Mr Zhou in an essay on the People's Bank of China website.
A reform of the international financial system will be on top of the agenda at the next G20 summit, which is to take place in London on 2 April. During this meeting, China is willing to assert its global economic and political power. It has plans about replacing the US dollar by the SDR (Special Drawing Right), which was created as a unit of account by the International Monetary Fund (IMF) in 1969.
Up to now, the US dollar was used as an international currency to compare the world different ones. China, which is holding the largest amont of USD currency ($2tn), is complaning about its volatility because of the current financial crisis, and mentions the increasingly frequent crisis since the early 1970s.
"The outbreak of the crisis and its spillover to the entire world reflected the inherent vulnerabilities and systemic risks in the existing international monetary system," said Mr Zhou in an essay on the People's Bank of China website.
Eva Be
Sources :
http://news.bbc.co.uk/2/hi/business/7960620.stm
http://news.bbc.co.uk/2/hi/business/7960620.stm
mercredi 25 mars
La Chine critique le dollar américain
Lors du sommet du G20 qui se tiendra à Londres le 2 avril prochain, la Chine tient à affirmer son pouvoir politique et économique mondial. Elle propose en effet de remplacer la monnaie américaine comme monnaie pour les échanges internationaux par le DTS (Droit de Tirage Spécial), monnaie créée par le FMI (Fond Monétaire International) en 1969.
La Chine, qui détient le plus de USD (United States Dollar), se plaint de sa volatilité due à la crise financière mondiale actuelle, évoquant le nombre croissant de crises depuis le début des années 1970.
"L'éclatement de la crise et sa dégénérescence dans le monde entier reflète la vulnérabilité et les risques du système monétaire international actuel," affirme Mr Zhou.
Eva Be
Sources :
http://news.bbc.co.uk/2/hi/business/7960620.stm
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