International policy coordination is like the Loch Ness monster: much discussed but rarely seen. Going back over the decades, and even further in history to the period between the Great Wars, coordination efforts have been episodic.
Reform of the international monetary system is wide-ranging and complex. Global debate is only just starting. But we must all recognize that this is not something academic or abstract. We need concrete ideas.
As my IMF colleagues and I gather here in Daejeon, South Korea with many luminaries from the region, we have an important opportunity to reinvent how the IMF and Asia collaborate in facing global economic challenges.