Andrew Sheng says international monetary system is fundamentally flawed

Andrew Sheng

The world is breaking up into national currency blocks, with the result that "no-one is looking out for the global public good", according to Andrew Sheng, a former chairman of the Securities and Futures Commission in Hong Kong.

Writing in the forthcoming edition of Central Banking journal, Sheng identifies a "fundamental flaw" in the current international monetary system: that credit is now created globally, while solvency is resolved nationally.

In the wake of the financial crisis, the Federal

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: