摘要：The article looks at how the present financial system works, signalling out its most crucial function, namely the provision of liquidity and its impact on the broad spectrum of international financial variables. Liquidity and risk are closely interrelated concepts. As Keynes and Hicks taught, a meaningful definition of liquidity cannot be given without reference to risk itself. The author provides some considerations to help shed light on the policy actions that may be required to mitigate the problems and difficulties associated with the current international monetary setting.
