The challenges posed to the global financial order by the rise of China could hardly be more fundamental. For several decades, the arbiters of the world’s monetary system have been developed, western democracies with fully convertible currencies and open capital markets that are governed by the rule of law.
中國崛起對全球金融秩序形成了巨大的根本性挑戰。幾十年來，全球貨幣體系的裁決者一直是發達的西方民主國家，它們的貨幣是可以自由兌換的，它們開放的資本市場是以法治約束的。
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