Jeffrey Sachs, special advisor to UN Secretary General Ban Ki-moon Currency basket can replace US dollar "I think China should play a cooperative role with Japan, South Korea and other Asian countries to introduce a regional currency while the world is trying to replace the old reserve currency system."
David Shambaugh, professor from George Washington University "Obama´s acceptance of Hu´s invitation to visit China later this year is a good sign. Obama´s administration starts a very good beginning with China."
Lin Yifu, World Bank Senior VP G20 summit to achieve results on protectionism "China will represent developing nations, and offer suggestions for discussion. This is the role China will play at the G20 summit."
Lindsay Tanner, Australian Finance Minister Tanner said the meeting is likely to result in a commitment to further stimulus spending. "All of those issues are pretty important to the question of how quickly we see economic normality being resumed,"
A UN advisor has suggested that a basket of currencies - including a regional currency in Asia - could replace the US dollar in shaping the global financial system. "I think China should play a cooperative role with Japan, South Korea and other Asian countries to introduce a regional currency while the world is trying to replace the old reserve currency system,"
The Group of 20 leaders yesterday pledged an additional $1.1 trillion to restore credit, growth and jobs in the world economy, announcing a broad raft of measures designed to hasten the end of the global financial crisis.
Clouds, chilly winds and widespread cynicism about the world leaders´ ability to overcome hardships embrace the Group of 20 (G20) Summit which opens in London today.
President Hu Jintao has called on the international community to join hands to ride out the current global financial crisis.
"China calls for creation of a new currency to replace USD, and the use of SDRs should be expanded."
China supports the IMF´s innovative financing attempts, and will "actively consider" buying bonds issued by the IMF.
Chinese Vice-Premier Wang Qishan and U.S. Treasury Secretary Timothy Geithner met in London on Thursday after the conclusion of the G20 summit to further confirm the establishment of a "double-track" Strategic and Economic Dialogue mechanism (SAED) between China and the US, following up on an announcement made when Chinese President Hu Jintao met US President Barack Obama on Wednesday, prior to the G20 summit.
A U.S. economist lauded China´s role in the G20 Summit, saying other countries were paying greater attention to what China has said and done.
Forging a peaceful, productive Sino-U.S. relationship could be the foremost task in the first half of the 21st century because any future attempt to stabilize the world must include both China and the U.S.
Vice Premier Wang Qishan is upbeat about China and the US´s decision to set up a Strategic and Economic Dialogue.
At the news conference of British Prime Minister Gordon Brown, CCTV reporter Rui Chenggang asked about China´s proposal for a new global reserve currency.
President Hu Jintao also met his French counterpart Nicolas Sarkozy, a rare meeting amidst a chilled relation after France has announced not to interfere in China´s internal affairs.
British Prime Minister Gordon Brown said here at a press conference following the G20 summit that China has deserves the right to demand more say and representation in the International Monetary Fund (IMF).