PBOC Head Imagines New World Currency Order After Dollar Era

People’s Bank of China Governor Pan Gongsheng laid out in the clearest terms yet his vision for the future of a new global currency order after decades of dollar dominance, predicting a more competitive system will take root in the years to come.

“In the future, the global monetary system could continue to evolve toward a situation where a few sovereign currencies co-exist, compete and check and balance each other,” Pan said Wednesday in a keynote speech at the annual Lujiazui Forum in Shanghai.