Conflicts and coordination between the right to issue US dollars as international currency and the protection of international human rights |
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Authors: | Yunbo Song |
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Institution: | (1) Institute of World Economics and Politics, Chinese Academy of Social Sciences, Beijing, China |
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Abstract: | In the existing global financial system, the US private central bank controls the right to issue international currency, while
the rest of the world have to involuntarily leave their destiny to such system. In the current financial crisis, American
government evaded and deviated from due regulation. It is virtually a robbery of other countries as well as a serious infringement
upon international human rights. In such a situation, other countries should stick to the international community standard
and the protection of international human rights to fairly distribute the interest deriving from the right to issue international
currency, and establish a monetary exchange mechanism; or abide by the principle of “one world, one currency” and accordingly
come up with a common international currency, or form a monetary union to safeguard the economic sovereignties; or enhance
the due position, rights and interest of the developing economies in the existing international financial system; or strengthen
efforts in reforming and building the regime of international financial regulation to prevent people’s legitimate property,
rights and interest from being infringed. |
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Keywords: | |
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