Justin Lin: Multiple reserve currency system ‘less stable' than one based on dollar

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Justin Yifu Lin

Competing reserve currencies may make for a "less stable" global monetary system than one based solely on the dollar, former World Bank chief economist Justin Yifu Lin argues in the latest issue of Central Banking Journal.

In an interview with Christopher Jeffery, Lin singles out the "inherent conflict" between a reserve currency country's national interests and global interests as the overriding challenge to the international monetary system.

"Every national government addresses domestic issues

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