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Wouldn’t a switch to Renminbi as a global reserve currency be fundamentally incompatible with China’s currency control regime? This has always been the explanat
by matthewdgreen 4y ago
Wouldn’t a switch to Renminbi as a global reserve currency be fundamentally incompatible with China’s currency control regime? This has always been the explanation I’ve been given for why such a switchover is improbable.
- ben_w 4y agoCould be; I don't even understand British economic policies, despite my nationality, Chinese economic policies are completely outside my domain of knowledge.
- Tarq0n 4y agoThere's also a lot less in circulation. The US Dollar has by far the largest volume out of any currency, which helps other central banks manage their holdings. This is something that holds back for instance the euro to be used for reserve banking.