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China calls for new international currency

BEIJING — China is calling for a new global currency controlled by the International Monetary Fund, stepping up pressure ahead of a London summit of global leaders for changes to a financial system dominated by the U.S. dollar and Western governments.

Gov. Zhou Xiaochuan's essay did not mention the dollar by name but said the crisis showed the dangers of relying on one nation's currency for international payments.

In an unusual step, the essay was published in both Chinese and English, making clear it was meant for an international audience.

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