China calls for new global currency

step up - wzmagać, zwiększać
China is calling for a new global currency controlled by the International Monetary Fund, stepping up pressure ahead of a London summit of global leaders for changes to a financial system dominated by the U.S. dollar and Western governments

assertiveness - asertywność, pewność siebie
The comments, in an essay by the Chinese central bank governor released late Monday, reflect Beijing's growing assertiveness in economic affairs.

reliance - zaufanie
Some economists have suggested creating a new reserve currency to reduce reliance on the dollar but acknowledge it would face major obstacles.

stockpile - zapas, skład
It would require acceptance from nations that have long used the dollar and hold huge stockpiles of the U.S. currency.

contradictory - sprzeczny
Managing such a currency would require balancing the contradictory needs of countries with high and low growth or with trade surpluses or deficits

liquidity - płynność
A super-sovereign reserve currency managed by a global institution could be used to both create and control global liquidity

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