Soros: China should lead ‘new world order’ (Daniel Tencer)

(Raw Story) -- China should step up to the plate as the leader of a new global economic order, and the US shouldn't fear the establishment of a global currency because it would help the economy, billionaire investor George Soros says.

In a recent interview with the Financial Times, Soros said that China hasn't been pulling its weight in reorganizing the global economy after last year's economic collapse, and the way to convince China to lead is to allow it to "own" the reorganization of the global financial system that is underway.

"You really need to bring China into the creation of a new world order, a financial world order," Soros told FT. "They are kind of reluctant members of the IMF. They play along, but they don’t make much of a contribution because it’s not their institution. ... They have to own it the same way as, let’s say, the United States owns the Washington consensus, the current order, and I think this would be a more stable one where you would have co-ordinated policies. I think the makings of it are already there because the G20, in agreeing to peer reviews, effectively is moving in that direction."

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http://rawstory.com/2009/10/soros-china-world-order/