The paper reviews the recent literature and debates on the reform of the international monetary system which has followed the global financial crisis and the subsequent Chinese proposal for enhancing the role of Special Drawing Rights

Recently, after the financial and currency crises that hit Asian economies at the end of last millennium and the foundation in Europe of the single currency, a renewed interest towards integration processes in Asia has grown (Whyplosz 2001). In the last four years a vivid scientific debate on...