If this whole process will be resolute and gradual at the same time, it should allow for an orderly transition towards a multi-polar IMS. Another question is whether the new IMS would be steady in nature or whether a new hegemon would emerge possibly to accomplish the “hegemonic stability theory” promoted by Kindleberger (Kindleberger, 1970). The answer will, again, depend predominantly on policymakers.
For now, let us walk our talk by saying thank you to one another as fellow central bankers who work with patriotism, excellence, integrity, dynamism and solidarity, our guiding values here at the Bangko Sentral ng Pilipinas. Together let us stand proud as BSPers who can truly make a difference in improving the lives of all Filipinos. Mabuhay ang Bangko Sentral ng Pilipinas!