To sum up, the world is facing a choice between two fundamentally different forms of organization.
总之，世界正面临着在两种形式式截然不同的组织之间进行选择。
We may label them international capitalism and state capitalism.
这两种组织我们称之为国际资本主义和国家资本主义。
The former, represented by the United States, has broken down
前者以美国为代表，已经瓦解；
and the latter, represented by China, is in the ascendant.
后者以中国为代表，正在兴起。
The path of least resistance leads to the gradual disintegration of the international financial system as we know it.
我们知道，不加抵制的发展途径导致国际金融体制的逐步解体，
Yet a system of bilateral relations is liable to generate conflicts between states.
而双边关系体制又容易造成国家间的冲突。
A new multilateral system based on sounder principles needs to be invented.
需要找到一种新的建立在更健全原则基础上的多边体制。
That would serve the best interests both the United States and China and of course the rest of the world.
它不仅符合美国和中国，当然也符合全世界的利益。
Now while international cooperation is almost impossible to achieve on a piecemeal basis,
虽然国际合作几乎不可能以零散的方式实现，
it may be attainable in a grand bargain where entire financial order is rearranged.
但可以通过重新调整金融秩序来实现大宗交易。
The emergence of the G20 as the primary forum of international cooperation
作为国际合作的主要论坛的二十国集团的出现，
and the peer review process adopted at the Pittsburgh meeting are steps in the right direction.
以及在匹兹堡会议上同行评审程序的采纳，都是向正确方向迈出的重要步伐。
But the G20 has to operate within the confines of the Articles of Association of the IMF as they are currently because changing the Articles is a long drawn-out process.
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