China on Track to Be Global Financial Leader
Martin Jacques, The Hindu | April 21, 2009
The global financial crisis has highlighted both the decline of the US and the dependence of the world on China's economy. ++ Given that reform is inevitable, China will be a central player in whatever new global financial architecture emerges from the present crisis. ++ Five years ago, China was not even included in discussions on such matters. ++ Apart from reform to the IMF and the World Bank, China has suggested the introduction of a global currency and is increasing the role of the yuan in global markets.
