摘要
THE global economy took a nosedive as the financial crisis hit in 2008.The U.S.dollar and the Euro saw their value fall precipitously in world currency mar-kets,triggering worries about the stability of the international monetary system.Some officials in the developed world put the blame on Asian countries,and on China in par-ticular,for instability in the international mon-etary system.They contended that excessive reserve accumulation of foreign exchange and gold was the leading cause behind prevailing monetary imbalances.The International Mon-etary Fund put its weight behind this argument,igniting worldwide debate on the issue.
