To Establish a Balanced Multi-currency International Reserve System
Published: December 2015
The dollar’s important role in the global economy is inevitably contradictory with its role as a sovereign currency. How to solve this contradiction? The combination of a multi-currency international monetary system, mainly made up of dollar, euro and Renminbi (RMB), as well as a super-sovereign currency, for instance special drawing rights (SDR), may be the answer to the Triffin problem and a right path towards the establishment of a stable international reserve currency system. This paper puts forward some ideas, aiming to arouse constructive debates on this issue.