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Mar 24 2009, 12:07 pm by Chris Good

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.

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