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This is what a new Bretton woods conference could accomplish in one fell swoop. It would reconstitute the IMF to better reflect the prevailing pecking order among states and revise its methods of operation. It would decide how to treat financial institutions that are too big to fail and it would consider new rules to control capital movements because the total freedom of financial capital to move around freely the world has proved to be a source of instability and needs to be curbed.
這就是一個新的布雷頓森林會議可以一舉完成的任務。它將會重新組建國際貨幣基金組織，使之能更好反映國家之間的一般排序，并且修改其運作方式。會議還可以決定怎樣對待那些規模大而不會垮掉的金融機構，以及考慮新規則來控制資本流動，因為在國際范圍內金融資本完全地自由流動已被證明是造成不穩定的因素之一，必須加以遏制。
The use of the dollar as the main international currency has produced dangerous imbalances. The dollar is no longer and no longer enjoys the trust and confidence it once did, yet no other currency is in a position to take its place. There is a general flight from currencies into gold and other commodities and tangible assets. That is harmful because it keeps those assets out of productive use and stokes the fear of inflation.
美元作為主要國際貨幣已經導致了危險的通貨不平衡現象。它過去所享有的信任和信心已不復存在，但尚未出現可將其取而代之的貨幣。現在大致的趨勢是，各種貨幣都向黃金及其他商品和有形不動產轉移。這不是好亊，因為它限制了這些資產的建設性作用，并會引發大眾對通貨膨脹的恐懼。
The United States ought not to shy away from the wider use of Special Drawing Rights (SDRs). That should induce China to abandon its peg to the dollar and that would be the best way to reduce international imbalances. Since SDRs are denominated in several national currencies, no single currency would enjoy an unfair advantage.
美國不應羞羞答答地回避“特別提款權”的更廣泛使用。它可以促使中國放棄盯著美元不放，也是減少國際不平衡的最好辦法。由于“特別提款權”由多個國家的貨幣決定，所以沒有哪一種貨幣能享有不公平的優勢。
