论国际货币体系的重建——基于创立世界货币的设想

On the Reconstruction of the International Monetary System

在过去的两百年中,国际货币体系发生了诸多变化。从1815年开始到1873年,采用的是金银复本位制,此后至第一次世界大战爆发,则是采取跛行本位制。自1915年到1999年,国际货币体系依次经历了黄金美元本位制、金汇兑本位制、黄金美元本位制、美元本位制以及浮动汇率制。现行的国际货币体系属于浮动货币区,缺乏统一的国际记账单位,也没有稳定的支柱货币。保罗沃克尔曾说过全球经济需要世界货币,但历史上的超级大国无一例外拒绝建立世界货币。欧元的成立,使得以美国主导的世界经济"主流"分裂成为两个部分。在布雷顿森林体系成立60多年后的今天,两大经济体可联合起来构成世界经济的"主流"。如果美元与欧元合并成为一种新的货币,它将会成为未来国际货币体系稳定的支柱货币及世界货币。

Over the past 200 years, the international monetary system （ IMS ） has gone through many changes. From 1815 to 1873, IMS was operating by Bimetallism, which was followed by Int＇l Gold Standard till the outbreak of the First World War. From 1915 to 1999, IMS adopted Dollar- Gold Standard, Gold Exchange Standard, Dollar- Gold Standard, Dollar Standard, and Flexible Exchange Rates. Currently IMS is operating by Fluctuating Currency Areas without a unified standard for international account keeping or stable anchor. As Paul Volcker states, the global economy needs a global currency, but historically, superpowers have always rejected a global currency. With the establishment of the Euro, the US - dominated world economic＂mainstream＂ split in two. Over 60 years after Bretton Woods, it is argued, the two largest economies can join forces to create today＇ s world economic ＂mainstream＂. If a joint Eurodollar could be created, it would become a stable anchor for a new IMS and a global currency.