• Doesn’t expect Germany to come under pressure to do more at G20 summit, Germany a role model
• Unlikely Chinese Renminbi would enter IMF currency basket in next few years
• Could make sense to introduce shadow FX basket at IMF to test impact of adding more currencies
• Still differences of opinion in G20 on IMF surveillance of currency markets
• Expects US dollar will still have main reserve currency role 10 years from now, but system will be more multipolar