Economy: East Vs. West

In an essay released last night, China's central bank governor called for a new international currency, to be used for reserve holdings and trade, controlled by the International Monetary Fund. With the G20 meeting in London April 4, Russia is also backing such a reform. One reason for the proposal: China doesn't want to depend on the financial regulations of other countries, including the U.S.

This article available online at:

http://www.theatlantic.com/politics/archive/2009/03/economy-east-vs-west/4870/