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3.3 dollar’s hegemony美元霸权full-fledge
sovereign debt crises主权债务危机 moral hazard道德风险
A larger role for the renminbi would help resolve the disparity between China’s great economic strength on the global stage and its heavy reliance on foreign currencies。
gists for the article:1,There will be a shift of global growth and investment to the emerging economies before 2025.
2, The current predominance of the US dollar would end sometime before 2025 and would be replaced by a monetary system in which the dollar, the euro and the renminbi would each serve as full-fledge international currencies.
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