The core of this report, co-published by CIGI and the Institute for New Economic Thinking, is to lay out in practical terms the critical issues China must consider in managing its engagement with the evolving IMS. There are both opportunities and pitfalls, and the hope is that the payments approach used will highlight why, and how, China and the IMS should “talk to one another.” This must be a two-way dialogue. While the pace, direction and ultimate goals of reform are for the Chinese to decide, what they decide will have implications going both ways — for them and for the functioning of the IMS. Avenues must be found to discuss and assess these implications from a system-wide, cooperative perspective.
