Dean Rohrer

储备改革

       纽约-中国和联合国国际货币金融体系改革委员会都曾呼吁建立新的全球储备体系。建立新的全球储备体系问题,应该是国际货币基金组织国际货币金融委员会下次会议的首要议题。

        要求建立新的全球储备体系所基于的核心观点相当简单:长期来看,国际货币体系不可能建立在一个主权国家的货币之上——比利时裔美国人罗伯特·特里芬早在半个世纪之前就表达了这样的观点。国际货币基金组织于20世纪60年代创立特别提款权(SDRs),就是因为世界各国认识到了这一根本问题。

         世界自20世纪70年代早期以来所经历的美元本位制度,有三个根本的缺陷。首先,与之前所有的制度一样,美元本位制度是让国际收支逆差的国家承担调节收支平衡的责任,而不是让国际收支顺差的国家承担这个责任。在此主要的例外是美国,由于美元储备货币的地位,到目前为止,美国都可以通过发行由世界上其他国家持有的美元债务的方式,为其国际收支赤字筹集资金。

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