China, US should reform world financial system

Beijing—The United States and China should join hands in an effort to reform the world financial system, which has currently entered the most deadly crisis in recent centuries, a renowned U.S. economist said yesterday.
"The end of the present world monetary-financial system is inevitable, unless the system is replaced by a new world system during a relatively brief, remaining time available," said Lyndon LaRouche at a luncheon at the Forum on U.S.-China Relations and China's Peaceful Reunification. LaRouche, also a famous political activist, said the present international financial crisis could only be brought under control when major countries like the U.S. and China cooperate. "Whenever a powerful combination of national governments can arrive at a suitable agreement to change a failed financial-monetary system, a solution for any modern financial crisis can be found," he said. He said that the United States should propose to form an initial sponsoring group made up of the governments of the U.S., China, Russia and India, therefore to rally a majority of nations in order to stabilize the world system.—Xinhua