The Asian Monetary Fund and De-Dollarization: The Reshaping of the Global Order
Bibliographic record
Abstract
During the Malaysian prime minister’s inaugural visit to China in April 2023, Anwar Ibrahim proposed the idea of establishing an Asian Monetary Fund (AMF), an idea that had previously been proposed at the height of the 1997 Asian financial crisis. The proposal in 1997 was due to frustration with the performance of the International Monetary Fund (IMF). Today, it is identified, together with de-dollarization, as part of efforts to reshape the global order. This paper explores the factors driving countries towards initiatives like the AMF and de-dollarization, and their prospects of successfully transforming the existing global order. This paper finds that initiatives such as the AMF and de-dollarization are driven by multiple factors, which include achieving monetary autonomy, and for a few, geo-strategic objectives. This study argues that instead of replacing the liberal international order, the objective of the countries seeking change through the AMF or de-dollarization is to strengthen their voices in the international system by reducing those of the US. Nevertheless, these initiatives are hampered because they lack the qualities that give shape to and maintain the architecture of the international order: power and legitimacy. This study concludes that both initiatives are unlikely to significantly reshape the global order. De-dollarization still has a long way to go before it can displace the dollar in the global economy. Likewise, the establishment of the AMF may not in the end reshape the global order but could instead complement the existing one.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.003 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.003 | 0.006 |
| Scholarly communication | 0.010 | 0.009 |
| Open science | 0.000 | 0.003 |
| Research integrity | 0.001 | 0.003 |
| Insufficient payload (model declined to judge) | 0.004 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".