New agreements may be in short supply when finance ministers of the Group of 20 leading economies meet this weekend in Paris. But their efforts to address the weaknesses of the international monetary system deserve close attention. The international economy is shifting to a new multipolarity. About half of global growth is now from developing economies and this will transform power relations. The US dollar will remain the predominant reserve currency, but over time the world economy will need to manage a system of multiple major currencies. We need to modernise multilateralism to steer towards a new monetary system.
20國集團(G20)財長們上週末在巴黎開會時，達成的新協議也許不多，但他們解決國際貨幣體系缺陷的努力值得密切關注。國際經濟正在朝一種新的多級格局轉變。目前，約一半的全球成長來自發展中經濟體，這將改變實力關係。美元仍將是占主導地位的儲備貨幣，但隨著時間的推移，世界經濟將需要應對一種包括多種主要貨幣的體系。我們必須實現多邊主義的現代化，建立新的貨幣體系。