China calls for new global currency controlled by International Monetary Fund.
By JOE McDONALD (Associate Press Business Writer).
China is calling for a new global currency controlled by the International Monetary Fund, stepping up pressure ahead of a London summit of global leaders for changes to a financial system dominated by the U.S. dollar and Western governments.
he comments, in an essay by the Chinese central bank governor released late Monday, reflects Beijing's growing assertiveness in economic affairs. China is expected to press for developing countries to have a bigger say in finance when leaders of the Group of 20 major economies meet April 2 in London to discuss the global crisis.Read more »