The international monetary system

Currency is any product that is able to carry cash as a means of exchange in the international market. The initiative on Euro, Dollar, Yuan Uncertainties is Scenarios on the Future of the World International Monetary System. The main world currency.

Рубрика Международные отношения и мировая экономика
Вид реферат
Язык английский
Дата добавления 06.04.2015
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In conclusion, I would like to say that, most likely, while talking about the yuan as a reserve currency is premature, given that he is far from free convertibility and almost never used outside of the Asia-Pacific region. But under certain conditions, it is quite possible in the long term.

It is believed that the XXI century will be the century of China as the new world economic center, and without Asian reserve currency that cannot be achieved.

Conclusion

For many observers, this future is desirable. It is, however, farfrom certain. Within each individual currency area, the necessaryadjustment processes may play outsuccessfully, fosteringcontinued growth in the underlying economy while alleviatingimbalances within the international monetary system. But they mayalso play out in an unsuccessful manner, due either to a failure ofadjustments to deliver continued growth or the pursuit of policiesthat serve domestic interests at the expense of global stability.

The following section explores how different combinations of moreor less successful adjustments within each currency area coulddrive three very different scenarios for the international monetarysystem in 2030. While these are not the only possible scenarios,they reflect a range of views expressed by stakeholders overthe course of this initiative and are intended to stimulate furtherdiscussion

What are scenarios?

Scenarios are stories about the future. They represent relevant, plausible, challenging and divergent possibilities, providing context around an issue for its stakeholders. Scenarios are not predictions, preferences or forecasts.

They aim to shift the focus away from preferences and the false security of predictability. They are not predictive in terms of assigning any likelihood or probability to individual scenarios.

They aim to raise awareness about the fact that opportunities and risks in each scenario depend on the context, who is involved and how they relate to the overall system. They are not normative in terms of depicting a clear best - or worst-case scenario.

They aim to induce creativity in thinking about these challenges and stretch the boundaries of what people perceive as plausible futures for which to prepare. They are not exclusive in terms of being the only possible futures.

Bibliography

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6. Jump up "Greek debt crisis: Straw says eurozone 'will collapse'". BBC.20 June 2011. Retrieved17 July 2011.

7. Jump up John Lanchester, "Euro Science," New Yorker, 10 October 2011.

8. Jump up "World's Most Traded Currencies By Value 2012". http://www.investopedia.com/. Retrieved 10 June 2013. "Initial changeover (2002)". European Central Bank. Retrieved 5 March 2011.

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13. Eichengreen, B. (2011), Exorbitant Privilege - The Decline of the Dollar and the Future of the International Monetary System, Oxford University Press, January.

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