Reconstruction of Diversified International Monetary and Financial System

This paper investigates the existing problems of the international monetary and financial system. To solve these problems, the diversified international monetary and financial system is necessary to be constructed in terms of the following three aspects: declining status of U.S. dollar, Euro becoming the chief competitors of U.S. dollars, and rapid development of Asian economy with China at the core. This result shows the pattern of future which is like the three legs of a tripod of the United States, Europe and Asia.