China's Zhou wants SDRs as global currency

Zhou Xiaochuan, the governor of the People's Bank of China, has urged countries to adopt special drawing rights (SDR) as an international reserve currency as part of a move towards a more stable global monetary order.

"While benefiting from a widely accepted reserve currency, globalisation also suffers from the flaws of such a system. The frequency and increasing intensity of financial crises following the collapse of the Bretton Woods system suggests that the costs of such a system to the wor

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