. >> and just underscoring a point that ben made, andy levin's paper goes into a lot of depth on the points that were just made. let's see. if there anyone way in the back there. person waving your paper over there. >> the chinese have made concerted effort in the last two or three years to establish the u.n. as a more prominent currency. they have the sdr thing going on. they have a number of other moves they're making including the other investment bank. do you agree that having that currentsy as an additional reserve currency would be good for the world economy, or bad for the world economy? and how do you think the effort to establish that will affect the euro? . >> well i think that in order for them to be a reserve currency, there's a lot more work to be done to liberalize the foreign exchange regime, to make it a floating exchange rate, to make it floating reserve, et cetera. those would all be positive things for the world and for china. i hope they continue to undertake the reforms. if they undertake the reforms, then you have a flexible exchange rate, then people or countri