CCP and the People's bank of China are not setting monetary policy in a vacuum, the Chinese currency operates within a managed floating exchange and has been in

CCP and the People's bank of China are not setting monetary policy in a vacuum, the Chinese currency operates within a managed floating exchange and has been internationalizing for last decade, that constraints the actions PBC can take without crashing the currency or the systems they have been building up to make CNY the(a) international reserve currency.