Bunları ben desem kimbilir bana neler derler? Aşağıdaki ikinci alıntı işin özü. Daron bir okusun. Hani, nerede demokrasi?
"When change comes, it shouldn’t
be to swap one currency hegemon for another. Any unipolar system is unsuited to
a multi-polar world. We would do well to think through every opportunity,
including those presented by new technologies, to create a more balanced and
effective system."
"Yet the US was, at least at
first, an unwilling hegemon. Under the gold standard, the Fed’s absorption of
gold inflows exported significant deflationary pressures to the rest of the
world.38 Europe was dependent on the recycling of capital flows by the US,
which lent much of its surplus back to Europe to enable payments of war
reparations and debt. Europe suffered severely when this stopped in 1928.
Moreover, the increase in price levels that occurred as a result of the First
World War left the global economy with too little gold in total to sustain
money supply at the level consistent with full employment. Supplementing gold
reserves with foreign exchange to boost money supply led to competition between
the UK and the US to provide that service to other countries."
"Even if the initial variants of
the idea prove wanting, the concept is intriguing. It is worth considering how
an SHC in the IMFS could support better global outcomes, given the scale of the
challenges of the current IMFS and the risks in transition to a new hegemonic
reserve currency like the Renminbi."
