skip to main content
Briefing

Global Monetary System

Appears in: Asia/Pacific, China, Northeast Asia, FX Reserves and Sovereign Wealth, Government Bonds

Critical Issues

Background:

China's PBoC governor Zhou reopened the debate on the global monetary standard when he suggested in March 2009 that the world use the IMF's SDR (special drawing rights) as a new global reserve currency instead of the U.S. dollar. This would de-link the global reserve currency from the economic and political travails of any one country. Russia, Brazil and some Asian countries support the calls for currency reform but U.S. officials dismiss the idea.

Access to this content is restricted to RGE clients.

If you have a client code, please enter it here to activate your client account.

Click here for a free trial.

Learn About Our Services:

RGE Research

Our dynamic and intuitive macroeconomic research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.

Our market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:

• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio

RGE Strategy

Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.

Learn More »

For information on becoming an RGE Client, please speak with an RGE Representative in New York at +1 212-645-0010, or in London at +44 (0) 207 092 8850, or email americas@roubini.com for the Americas, europe@roubini.com for Europe, the Midddle East and Africa, and asia@roubini.com for Asia/Pacific.

Associated Readings

Research ADBI Soyoung Kim and Doo Yong Yang Dec 18, 2009 International Monetary Transmission and Exchange Rate Regimes: Floaters vs. Non-Floaters Analysis DBS Bank Jul 22, 2009 Super reserve currency – a solution looking for a problem? Analysis Kennedy School of Government, Harvard University Speech by Jeffrey Frankel Jun 19, 2009 On Global Currency Issues: What's Out and What's In Blogs VoxEU Helmut Reisen Jun 20, 2009 Shifting wealth: Is the US dollar Empire falling? Opinions World Politics Review Daniel McDowell May 22, 2009 Liquidity Swaps Presage Battle for Currency Supremacy Research Hong Kong Institute for Monetary Research Wensheng Peng, Chang Shu and Hongyi Chen May 26, 2009 Renminbi as an International Currency: Potential and Policy Considerations Analysis Natixis May 19, 2009 Reform of the International Monetary System: The optimal and the realistic solutions Blogs Asia EconoMonitor Mark Thoma May 18, 2009 Who's Afraid of a New Reserve Currency? Opinions Project Syndicate Barry Eichengreen May 03, 2009 Commercialize the SDR Opinions American Enterprise Institute Desmond Lachman May 07, 2009 A Dollar Collapse Will Hurt China Analysis Standard & Poor's Ping Chew Apr 24, 2009 The role of the dollar called into question Opinions Cato Institute Swaminathan S. Anklesaria Aiyar Apr 24, 2009 Can IMF Currency Replace the Dollar? Analysis ING Investment Management Rob Carnell Apr 20, 2009 Reserve currency: Death-knell for the dollar? Blogs Asia EconoMonitor Michael Pettis Apr 09, 2009 Is Governor Zhou a closet Bernanke-ite? Opinions Cato Institute James A. Dorn Apr 03, 2009 The Dangers of a New Global Reserve Currency Opinions Guardian Joseph E. Stiglitz Mar 27, 2009 Reform is needed. Reform is in the air. We can't afford to fail Research Rutgers University Michael Bordo and Harold James December 2008 The U.S. Dollar and its Role in the International Monetary Order Analysis Harvard University Kenneth Rogoff Jan 8, 2001 On Why Not a Global Currency? Analysis Morgan Stanley Global Economic Forum Stephen Jen Mar 31, 2008 Currencies: Reassessing the Reserve Currency Status of the USD

Publications

Our Research
?

Our Thoughts
?

Outlook Center
?

Central Bank Watch
?

Key Views
?

Scenario Analysis
?
RGE Clients can activate their account by updating Manage My Account

Top 10 Most Read

Our Thoughts
1. Commodity price divergence
Our Research
2. Europe’s Playbook for Financial Crises
Our Thoughts
3. More bad news in the Brazilian Central Bank's expectations survey
Our Thoughts
4. Estimating the impact of faster global growth on Japanese exports
Our Research
5. Recent U.S. Data Signals Suggest Slow and Steady Activity
Our Research
6. India Trip Report: Policy Failures Dent Potential Growth; Is a Mea Culpa Too Little Too Late?
Our Research
7. The Eurozone Malaise: From Economic Causes to Market Implications
Our Research
8. Debt and Deleveraging: Will China Turn Japanese?
Our Thoughts
9. Turkey’s rising reliance on short-term external funding
Our Thoughts
10. Why Turkey’s easing cycle may well not be over yet

ROUBINI FEEDBACK FORUM

What Do You Think?
Weigh in on Roubini.com's new look or report any problems you encounter.

Website Feedback Content Feedback