This paper by Barry Eichengreen discusses the potential for the Chinese renminbi to attain international currency status, drawing historical parallels with the rise of the U.S. dollar between 1914 and 1924. It outlines the steps China is taking to internationalize the renminbi, including encouraging its use in trade, financial transactions, and as a reserve currency. The paper also discusses the challenges and advantages China faces in this process and the implications for the global monetary system.
documents/EFTA01130078.pdf
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