I don’t want to carry the parallel too far, as I am aware of the important differences between Europe and Asia, but I think that large and systemically important countries like China and Japan have a responsibility to exert leadership.
At the same time, as the world we live in is truly global, the passage from the current Bretton Woods II non-system to a new international monetary system – more stable, better defined and regulated – must see all the countries affected, especially those of the G-20, as full active participants in its design and ownership.