Edited by Huiyao Wang and Lu Miao
Chapter 11: Could the People’s currency become the global currency?
China’s economy has been thriving and will see a vigorous growth in the upcoming years. This chapter reviews China’s monetary history and explores the key driving forces that have strengthened China’s currency, and its adjustment of currency policy. The central outlook in the short and medium term is for a Chinese currency that plays a powerful role in Asia, and an increasingly important role elsewhere, but does not usurp the dollar’s global currency role.
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