To Establish a Supra-sovereign International Currency (eBook)

Chong Li, born in May 1955, holds a doctorate in economics and serves as professor and Ph.D. supervisor currently at Beijing Normal University. Li graduated from Sun Yat-sen University in 1978 and a master degree in 1981, from Peking University. Thereafter, he worked as a teaching assistant (1981) and lecturer (1983) at Sun Yat-sen University.

Li obtained his Ph.D. degree from Beijing Normal University in 1988. From 1988 to 2000, he worked in the Department of Economics at Sun Yat-sen University as an associate professor (1988) and then as a professor (1992). Li studied at Michigan State University in the United States from 1992 to 1993 as a visiting scholar. He was promoted to doctorial supervisor in 1995.

Since 2000, Li has been working at Beijing Normal University. He was Dean of School of Economics and Business Administration between 2000 and 2008. He made an academic visit to California State University in the US from February to May 2002.

With Macroeconomics, International Economics, and Finance as his main research areas, Professor Li has published 18 works and more than 200 academic theses. He has chaired six scientific research projects at the national level, four at the provincial & ministerial-level and won six provincial & ministerial-level awards in research.

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The research purpose of this book is to advance the reform of the existing international monetary system through the establishment of a new international currency standard that is a super-sovereign currency. International Monetary System provides international economic activities rules for the human society. It has significant influences not only on international economic activities of various countries but also on their domestic economic activities as well. Since the disintegration of International gold standard in 1971, studies on reform of international monetary system have remained as the important research themes for international economic research fields. Improvements of international monetary system to facilitate worldwide economic developments have been interests to all. Thus this book has valuable theoretical contributions.    Since the collapse of Bretton Woods System, the current international monetary system of Jamaica System has come into being. Under Jamaica System, the sovereign currency US dollar has acted as the main international currency. This has caused vulnerability of money standard, instability of exchange rate system, and frequent occurrences of currency crises. Calls for international monetary system reforms have increased under these circumstances. Various programs such as improved international gold standard system, expansion of Special Drawing Rights, as well as establishment of single world currency surface. So this book has significant practical contributions as well. The major contribution of this book is the proposal of new scheme of establishment of supra-sovereign international currency. This is an entire new reform program that differs significantly from any past or current reform programs in international economic research fields from all over the world.