Opinion
Published on: 05. February 2021

The year of the renminbi?

Arvind Subramanian
The government in Beijing wants to establish the renminbi as a global reserve currency. While the Chinese currency is becoming increasingly popular for trade and financial transactions, it has so far been unable to pose much of a threat to the US dollar. There is simply a lack of confidence in the Chinese financial system, according to Arvind Subramanian and Josh Felman.

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Last updated: 24. July 2025
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