Special Report: Zhou Xiaochuan: Reform the International Monetary System (Full Text) BEIJING, March 26 -- The following is an article written by Zhou Xiaochuan
, governor of China's central bank, on international monetary system. Full storyEconomists call for diversified, competitive global reserve system HONG KONG
, March 25 (Xinhua) -- The current global financial crisis exposed the weakness of the current U.S. dollar-standard global reserve system, and an alternative global reserve system should be more diversified and competitive, economists said on Wednesday. Fan Gang
, a renowned economist and member of the central bank's monetary policy committee, said China has long suffered under the dollar reserve system and that one of the problems is some of the international money has been used without discipline. Full storyChina central bank governor suggests creating super-sovereign reserve currency BEIJING
, March 24 (Xinhua) -- Zhou Xiaochuan, governor of China's central bank, has proposed to create a super-sovereign reserve currency as part of reform in the international monetary system. The desirable goal of the international monetary system is to "create an international reserve currency that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies
," he said. Full storyObama sees signs of progress toward recovery
, appeals for patience WASHINGTON, March 24 (Xinhua) -- Seeking to rally more support for his efforts to tackle the crisis, U.S. President Barack Obama assured Americans on Tuesday that there were "signs of progress" toward recovery
, while pleaded for more time and patience. U.S. President Barack Obama delivers a speech during his second prime time news conference at the White House in Washington, March 24, 2009. (Xinhua/Zhang Yan)Full story
