[The International Monetary] Fund should focus its surveillance on the systematically important countries issuing major reserve currencies.

The frequent outbreak of crises since the collapse of the Bretton Woods system indicates that the fundamental weakness of the international monetary system lies in its undue reliance on a single currency.^[16]

(Zhou Xiaochuan, Governor of the People’s Bank of China, 2006b, p. 4)

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Source: Burdekin Richard C.K.. China’s Monetary Challenges: Past Experiences and Future Prospects. Cambridge University Press,2008. — 272 p.. 2008

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[The International Monetary] Fund should focus its surveillance on the systemati­cally important countries issuing major reserve currencies.

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