| Abstract: | After the outbreak of the global financial crisis,there has been an outcry from developing countries,especially the so-called BRIC(Brazil,Russia,India and China),that a"diversified"international monetary system should be put in place.At their first formal summit meeting held on June,the leaders of Brazil,Russia,India and China,whose governments are some of the world's largest dollar helders,jointly declared the need for a more diversified international monetary system,sparking a drop in the greenback on world markets. |
