Expect China to Shape the Next Bretton Woods Pact: Philip Coggan

Feb. 3 (Bloomberg) -- When the world economy heads into crisis, the international currency system often breaks down. This occurs either because debtors can’t meet their obligations, or because creditors fear they are not being repaid in sound money. The first condition exists today in the euro zone; the second is likely to emerge in the China-U.S. relationship.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.