Writing China: The Limits of the Yuan’s Global Rise
Poster： ╱ Post date：2016-09-25
Issue：(Internationalization of RMB ),(RMB Exchange Rate Issues)
(China Real Time Report, By Lingling Wei) The objective of making the yuan a truly global currency still serves the Chinese leadership well. It provides a framework for pushing forward capital-account opening, financial-sector reforms and exchange-rate flexibility, and blunting domestic opposition to those reforms. In the book, I describe this as a “Trojan horse” strategy. Whatever happens with the yuan’s prominence on the world stage, such reforms are good for the Chinese economy.