February 3, 2012
Expect China to Shape Next Bretton Woods Pact
Philip Coggan, Bloomberg
It seems unlikely that the next 10 years will see a yuan standard replacing a dollar standard. But might the present crisis conditions lead to some other sort of change? Might countries, for example, be driven to enter a new arrangement comparable to the 1944 Bretton Woods pact, in which the world's major industrial states agreed to adhere to a global gold standard to stabilize international currencies?
TAGGED: United States, China