Han Lin in Financial Times: ‘The IMF’s mandate, governance incentives and China’s weight all push the institution towards calibrated, consensus driven language rather than headline grabbing confrontation’
Han Lin, China country director of the Asia Group, a US consultancy, said he expected Katz to press “quietly and ...
Media
Commentary
U.S. Dollar to Remain Dominant Despite RMB Internationalization
In recent months, a growing chorus of analysts has argued that the U.S. dollar’s dominance is waning, with China’s renminbi (RMB) emerging as the leading replacement.
Other analysts, however, take a more circumspect view. They concede that some countries are moving to use currencies other than the USD for trade and reserves purposes, but doubt that the RMB will systemically replace the dollar anytime in the foreseeable future. The Asia Group assesses that most evidence supports this view.
China and Russia are clearly motivated to ramp up RMB use to settle trade transactions because of the U.S.-led sanctions against Moscow. Those sanctions have frozen much of Russia’s foreign currency reserves and removed major Russian banks from SWIFT, which facilitates most international banking transactions.
Listen on:
Related Posts
Han Lin on IMF’s mild criticism of weak Chinese currency in New York Times
Kurt Campbell featured on At Home with the Financial Times
Han Lin in Financial Times: ‘The IMF’s mandate, governance incentives and China’s weight all push the institution towards calibrated, consensus driven language rather than headline grabbing confrontation’
George Chen in Bloomberg: ‘The H200 is now not just an AI chip but an example of how good or bad US-China relations can be’