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从根本上说,全球金融危机的爆发表明,当前的全球经济治理已经无法应对过去几十年中快速全球化过程出现的新挑战,当前的国际货币体系已经不能满足日益复杂和一体化的世界经济的需要。当前国际货币体系主要存在以下问题:第一,积累外汇储备的需求不断增加。如果这个趋势不变,到2035年美国之外的美元外汇储备与美国GDP之比将由当前的不到50%上升至700%。第二,对外汇储备的需求主要集中在美元资产上,尤其是对美国国债的需求。由此美国
Fundamentally speaking, the outbreak of the global financial crisis shows that the current global economic governance can no longer cope with the new challenges that have emerged in the rapid globalization in the past few decades. The current international monetary system can no longer satisfy the increasingly complicated and integrated world economy Need. The current international monetary system mainly has the following problems: First, the demand for accumulating foreign exchange reserves has been constantly increasing. If this trend does not change, the ratio of the U.S. dollar’s foreign exchange reserves outside the United States to U.S. GDP will rise from less than 50% to 700% by 2035. Second, the demand for foreign exchange reserves is mainly concentrated in the U.S. dollar assets, especially the demand for U.S. government bonds. From this United States