Zhu Min, what would we strive for

 Fortunately, the Chinese use the SDR framework
mm voice message to be to the IMF Burkina
Vice President Zhu Min, vice president of Economics, Fudan University, Professor of Finance Sun Lijian
the International Monetary Fund after this field after the baptism of the global financial crisis facing the challenges of growing crisis of confidence. They, to improve their operational performance and efficiency, is to reduce redundancies, budget cuts and increased share of emerging countries such as number of voting reform, particularly the completion of these reforms , China will likely surpass Japan to become the IMF Special Drawing Rights (SDR) under the framework of the second-largest what kind of impact the economy, we should calm down a good estimate.
is well known, the SDR (SDR) is to make up their own foreign exchange reserves by the IMF member countries can not compete outside of speculation, this defect in 1969 by IMF to promote the formation of a special international reserve assets. In other words, a crisis occurred within a Member State, a threat to their own country's currency value and the resulting impact on the economic stability of the time, as a member can have according to their own special drawing rights (understood as foreign currency assets sold off to buy their own national currency, in order to difficult, therefore, taken up by the IMF foreign exchange reserves needed to stabilize the exchange rate of the urgency will be greatly reduced, while their national currency of foreign debt caused them trouble, they easily can, through the financial system is strong, based on the credit guarantee, and can ensure the inflow of international capital will not be interrupted, thus supporting the stability of the currency of their own country. Even though many developing countries, because the outside world, increasing the degree of foreign capital inflows, coupled with established and developed the international economic and financial cooperation is also deepening the relationship, so They do not have a way through the SDR Special Drawing Rights, but also to obtain the required foreign exchange funds, In addition, previous IMF crisis have exposed the financing channels for the more demanding section, and a longer time in effect financing a fatal flaw Therefore, the demand for SDR countries also followed the more weak.
today, to this crisis so that people started to pay attention again SDR this : First of all, SDR Special Drawing Rights guarantee of funds is the common members of foreign currency reserve assets to their country's economic growth, according to their ability to come together to form a , but including the British pound, euro and yen and other international hard currency. relatively speaking, the pool of funds SDR in the foreign exchange assets if it is the future ability of hard currency in exchange for one U.S. dollar would constitute the SDR than a single much better. This is the feeling we re-examine the SDR system is an important reason. Secondly, although the pool of funds used in the power of the United States have a veto, but it is the collective view, after all, the unity of the national vote, the better to echo up as long as several countries to be able to use the funds and management of a great initiative, which is why, as China, Russia and U.S. have such a ; the idea is based on the SDR value of the face to maintain the stability of the international monetary system have been performed to get, if the market began to doubt them, for example, national and commodity dollar petrodollar countries began selling dollars or euros, then the crisis will deepen the level of developed countries. If there are a relatively stable channel for the assets as a hedge to hold these countries, such as to the value of IMF SDR issue bonds for the pricing basis, so that the value of foreign exchange reserves of these countries for the purpose of stability, they will not sell dollars in the market, while and IMFSDR assets replacement, then, IMF will be the accumulated dollar assets to support the countries subjected to monetary shocks, they will not cause U.S. dollar or the euro monetary system monetary system instability. This is also the support of the United States and Europe today, China and Russia to improve their SDR reasons.
However, we must remind ourselves that China today raised its voice in the world, foreign exchange assets of our operations outside the state does have a clearer understanding and intervention ability, but is followed by our obligations in international affairs has also been down the most comprehensive. If a big country to the international image of the excessive help us in the international arena for a lasting initiative; the contrary, if we are too stressed his monopoly and the world should abandon their obligation to bear a large country, so is to stand in the position of the majority of emerging markets to seek more partners we have worked hard to safeguard the value of foreign exchange reserves created. In foreign to the SDR-based international aid, when it should fight for the relative power of such . This is the U.S. dollar borrowed SDR mechanism to maintain the leading position on the International Monetary really active. In the future we should be through the establishment and strengthening of the currency SDR contact with the mechanism of the renminbi, to further promote the yuan's prestige in the international arena, for the RMB lay a solid international will further affect the performance of the Chinese currency and the level of discourse the future development of China's foreign exchange wealth fate. In this regard, as the teachers and students of Fudan University will be proud of him, as he cheered!