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(单词翻译:双击或拖选)
PARIS, Jan. 6 (Xinhua) -- Jeffrey Sachs, special advisor1 for UN Secretary General(秘书长), envisioned Thursday a three-pillar monetary2 system in place of U.S. dollar dominance in post-crisis world at an economic forum3 in Paris.
"We can't go to a global reserve just the way that Europe can barely work with Europe reserve, we'll have multiple pillars, what's missing now is an Asian pillar in a world where Asia more being an economic center of priorities," the Columbia University professor said when commenting on international monetary system reforms.
France, the country just took over bi-presidency of G8 and G20, hosted state ministers, prestigious(有名望的) economists5 and business leaders at a forum under the theme of "new world, new capitalism6" to talk about future economic policies, reform of the international monetary system and growth and stability in the Mediterranean7 region.
The UN advisor said the current economic crisis hitting many developed world resulted from the failures of financial regulation, "If you let your banking8 sector9 taking a lot of money out of regulation, in various ways, you end up with crises, and this crisis was about banking regulation and U.S. monetary policy."U.S. dollar's role as the single global reserve currency didn't have direct link with present European debt crisis as it's a crisis of "credit link" instead of "monetary links", Sachs noted10 but meanwhile underlined this role has made "reserves going up all over the world" because "you are pegging11 to the dollar" and "the Fed is very expansionary.""What's missing is that the countries have a choice off the dollar. The euro is in crisis,but it will get out of the crisis, I believe, so the euro will be a good robust12 alternative, but there is no Asian alternative right now, so what I believe where really ahead is RMB or some kind of Asian cooperative arrangement will be the third pillar of the system," he said.
The U.S. economist4 showed much optimism in a three-pillar system, reckoning it useful to cater13 for different needs. "If you are an outside country of that, and U.S. continues to be very irresponsible about the currency policy, you'll move more close to Renminbi, euro and other bases, and the ability of the Fed to determine the monetary policy of so many countries will certainly diminish along with the weight of the U.S. in the world, " he concluded.
The two-day economic forum was opened by French Prime Minister Francois Fillon and his Greek counterpart George Papandreou. Other senior policy makers14 attending the forum included the French Economy Minister Christine Lagarde,UK Chancellor15 of the Exchequer16, George Osborne, Chilean Finance Minister Felipe Larrain,Italian Finance Minister Giulio Tremonti and Polish Finance Minister Jacek Rostowski.(本文由在线英语听力室整理编辑)
1 advisor | |
n.顾问,指导老师,劝告者 | |
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2 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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3 forum | |
n.论坛,讨论会 | |
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4 economist | |
n.经济学家,经济专家,节俭的人 | |
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5 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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6 capitalism | |
n.资本主义 | |
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7 Mediterranean | |
adj.地中海的;地中海沿岸的 | |
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8 banking | |
n.银行业,银行学,金融业 | |
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9 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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10 noted | |
adj.著名的,知名的 | |
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11 pegging | |
n.外汇钉住,固定证券价格v.用夹子或钉子固定( peg的现在分词 );使固定在某水平 | |
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12 robust | |
adj.强壮的,强健的,粗野的,需要体力的,浓的 | |
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13 cater | |
vi.(for/to)满足,迎合;(for)提供饮食及服务 | |
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14 makers | |
n.制造者,制造商(maker的复数形式) | |
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15 chancellor | |
n.(英)大臣;法官;(德、奥)总理;大学校长 | |
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16 exchequer | |
n.财政部;国库 | |
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