VoxEU / Eswar Prasad : The renminbi’s prospects as a global reserve currency

[arthur garbayo]

The renminbi’s prospects as a global reserve currency

Eswar Prasad 16 February 2012

Is China’s currency destined to become the dominant global reserve currency? This column argues that despite not yet having a flexible exchange rate or open capital account, China’s government is pursuing ‘liberalisation with Chinese characteristics’. It argues that the renminbi will become a reserve currency within the next decade, eroding but not displacing the dollar’s dominance. Eswar Prasad Tolani Senior Professor of Trade Policy at Cornell University, Senior Fellow of the Brookings Institution and Research Associate, NBER http://www.voxeu.org/index.php?q=node/7630

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