U.S., China must back IMF, end currency impasse

According to this article by Bloomberg, published Thursday 7 September, the International Monetary Fund which set up the system of flexible exchange rates needs to infuse it with a dose of vigour.

"If the IMF fails in this task, we may as well throw up our hands, admit that economist Robert Mundell is right and find a way to once again tie the values of various currencies to each other, either through gold, or via another anchor."

"The coexistence of market- and central bank-determined exchange

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