But more recent scholarly work suggests that this change occurred faster than conventionally assumed because the increasing returns of networks may not be as strong as commonly posited (see, for example, Chiţu, L., Eichengreen, B. and Mehl, A. (2014), “When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets,” Journal of Development Economics, Vol. 111, pp. 225–245).
Guo Shuqing: Promoting the new development paradigm and preventing the resurgence of financial risks Speech by Mr Guo Shuqing, Party Secretary and Deputy Governor of the People's Bank of China and CBIRC Chairman, at the 13th Lujiazui Forum, Shanghai, 10 June 2021. * * * Secretary Li Qiang, Mayor Gong Zheng, GovernorYi Gang, Chairman Yi Huiman, ladies and gentlemen, friends, Good morning!