The phrase "world monetary system" is correct and can be used in written English.
It refers to the global network and institutions that facilitate international trade and financial transactions, including currencies, exchange rates, and central banks. Example: The stability of the world monetary system relies heavily on the actions and policies of major economies such as the United States and China.
Representatives of some 44 nations gathered in July 1944 at Bretton Woods, a resort spot in New Hampshire, to hammer out a world monetary system, replacing the gold standard that had failed so woefully.
As a recent report about how to reform the world monetary system pointed out, the balance sheet of the United States government is not big enough to accommodate the reserves demanded by the rest of the world.
All the same, Nicolas Sarkozy will head to Washington early in January for a conversation about reorganizing the world monetary system in a way that might just mark the United States as the real global force in decline.
Drawing on an extensive archival research from eighteen archives in six countries, this book makes a significant contribution to the understanding of European integration and the evolution of the world monetary system.
"Although the political, cultural and economic challenges are formidable," an International Monetary Fund study said, "the euro has the potential to reshape European and international financial markets and to transform" the world monetary system.
The U.S. dollar is the currency of international trade, and the world monetary system runs on U.S. Treasury securities.
The dollar and treasury bonds and bills play a central role in the world monetary system.Just as important, the fact that America's fiscal problems have finally roused a ratings agency only underlines how advanced they are.
China's official news agency, Xinhua, immediately called for a new reserve currency.Such calls have been made before, during bouts of dollar weakness in the late 1970s and mid-1990s, buthehe dollar still holds the privileged position in the world's monetary system it has occupied since the second world war.
Something happened in September 1988 that has huge implications for the world's monetary system.
T.N.R.'s John Judis on the mess that is the world's monetary system.
Writing in 1973, Charles Kindleberger pointed to the importance of an economic hegemon who would act as an importer of last resort and financier of the world's monetary system.
