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全球政经领袖共话未来全球货币体系 多元化将成为未来改革的方向
Xin Jing Bao·2025-05-17 13:57

Group 1 - The status of US Treasury bonds as the safest global asset and the dollar as the world's reserve currency is being challenged, with many countries initiating a de-dollarization process [1] - The current international order is facing challenges, particularly from the US regarding tariffs, and there is a need for a multilateral system [1] - The global trade system is no longer dominated by a single power, making diversification increasingly important [1] Group 2 - The credit of the dollar is facing systemic weakening due to rising US debt and fiscal deficit pressures, leading many central banks to reconsider their dollar asset allocations [2] - Despite the dollar's current status as a safe haven asset, geopolitical uncertainties are prompting a shift towards increasing gold reserves among central banks, including those in emerging markets [2] - The transition from the old international financial order to a new one may take decades, with emerging economies like China gaining more weight in the global financial system [2] Group 3 - A more diversified international monetary system is gradually forming, with the internationalization of currencies like the yuan and euro potentially providing a realistic alternative to the existing system [3] - Institutions like the IMF and World Bank may play a more significant role in the future international monetary system, with the possibility of developing new international currencies such as SDRs [3] - The global financial system may require alternative safe assets, and the inclusion of more currencies in SDR could support this diversification [3] Group 4 - The euro and yuan may gain more liquidity as their status improves, but Europe needs to unite for reforms to make the euro a more attractive international currency [4] - A fiscal union in Europe is necessary for euro-denominated bonds to attract significant foreign exchange reserves [4] - The yuan, while not fully convertible, has potential to become a global reserve currency, with recent steps taken to increase its use as a settlement currency [4][5]