China could do one thing to help internationalize the yuan — but it probably won't
Reuters
- China is introducing an oil futures contract that is denominated in yuan.
- That's in effort to internationalize the yuan and pull global reliance away from the dollar.
- But that's not likely without removing capital controls — an unlikely move for Beijing.
Council on Foreign Relations
As we documented in a post one year ago, what The Economist once called the “unstoppable” internationalization of China’s currency—the RMB—has been stopped. Indeed, reversed.See the rest of the story at Business Insider
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