The renminbi might well make a fine regional reserve currency, but the global reserve currency system is likely to gravitate towards a combination of gold, dollar, yen, renminbi and perhaps even oil.

FORBES

The only proven alternative to a global financial system without reserve currencies is the international gold standard.

FORBES: What Are Treasuries Really Saying? Nothing About Washington

Although this medicine may have helped cure the problem, it was the emergency rate cuts by the U.S. Federal Reserve in the fall of 1998 that pumped enormous liquidity into the global system and dramatically reduced financial stress in Asia.

FORBES: It's the debt, stupid

More academic types railed against the madness of an international monetary system in which global imbalances are set to widen again and the pace of reserve accumulation is accelerating.

ECONOMIST: Currency wars

Mr Zhou calls for a radical reform of the international monetary system in which the dollar would be replaced as the main reserve currency by a global currency.

ECONOMIST: The dollar as a reserve currency: Handle with care | The