Abstract
This paper focuses on the rivalry between the US and China, with particular emphasis on the renminbi (RMB) and the US dollar. It examines three related points. First, for China to upend the dominance of the US dollar and replace it, even partially, with the RMB would require major—and probably disruptive— changes in China’s financial markets and monetary policies. Is the Chinese government willing to take those steps? Second, can China overtake the US economy and provide another incentive for international investors to start switching to the RMB? And third, is it still a question of whether de-dollarisation is happening, or has the question moved on to asking how fast the RMB can rival the US dollar in the 21st century? Finally, the paper examines China’s economic problems, which are set to damage the RMB’s reputation and progress as a reserve currency.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
