建立新的国际货币体系(16页).pdfVIP

1 / 16 2010 年 11 月 09 日 06:58 AM 建立新的国际货币体系 The G20 must look beyond Bretton Woods 世界银行行长 罗伯特?佐利克 为英国《金融时报》撰稿 With talk of currency wars and disagreements over the US Federal Reserve’s 在人们大谈“汇率 战”、而美联储(Fed)定量宽 松政策引发争议的形势下， 本周在首尔举行的“20 国集 2 / 16 policy of quantitative easing, the summit of the Group of 20 leading economies in Seoul this week is shaping up as the latest test of international co-operation. So we should ask: co-operation to what end? 团”(G20)峰会，将成为对 国际合作状况的最新检验。 因此我们应该问：为什么要 合作？ When the G7 experimented with economic co-ordination in the 1980s, the Plaza and Louvre Accords focused attention on exchange rates. Yet the policy underpinnings ran deeper. The Reagan 上世纪 80 年代，当“7 国集团”(G7)尝试开展经济 协作时，《广场协议》和《卢 浮宫协议》的焦点是汇率。 但各项相关支持政策却更为 深远。在时任财长詹姆斯? 贝克尔(James Baker)的指 导下，里根政府力图抵制来 自国会的保护主义浪潮— 3 / 16 administration, guided by James Baker, the then Treasury secretary, wanted to resist a protectionist upsurge from Congress, like the one we see today. It therefore combined currency co-ordination with the launch of the Uruguay Round that created the World Trade Organisation and a push for free trade that led to agreements with Canada and Mexico. International leadership worked with domestic policies to boost competitiveness. —于目前的保护主义浪潮 如出一辙。为此，里根政府 除了推动汇率协作以外，还 发起“乌拉圭回合谈判”，由 此缔造了世界贸易组织 (WTO)，并推动自由贸易， 促成了与加拿大和墨西哥的 自由贸易协议。国际舞台上 的领导作用与国内政策相辅 相成，增强了美国的竞争力。 4 / 16 As part of this “package approach”, G7 countries were supposed to address the fundamentals of growth – today’s structural reform agenda. For example, the 1986 Tax Reform Act broadened the revenue base while slashing marginal income tax rates. Mr Baker worked with his G7 colleagues and central bankers to orchestrate international co-operation to build private-sector confidence. 根据上述“一揽子措 施”，G7 国家应致力解决经 济增长中的基本问题—— 在今天则是结构性改革议 程。譬如，1986 年出台的 《税务改革法案》在大幅降 低边际所得税率的同时，扩 大了税基。贝克和 G7 同仁 们以及各国央行联手策划了 一场国际合作，以帮助私人 部门树立信心。 5 / 16 Histor