Kean Fan Lim

Kean Fan Lim

Dr Kean Fan Lim is a lecturer in economic geography at the Centre for Urban and Regional Development Studies, Newcastle University, UK.

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Macroscope | Ten years after China’s renminbi went global, what keeps it from really challenging the US dollar as a reserve currency?

China retains tight control over its financial system – in sharp contrast to the US’ open market – to limit exposure to foreign crises, but this keeps its currency from replacing the dollar as the preferred medium for market exchange.

18 Apr 2019 - 10:35AM

China retains tight control over its financial system – in sharp contrast to the US’ open market – to limit exposure to foreign crises, but this keeps its currency from replacing the dollar as the preferred medium for market exchange.

Ten years after China’s renminbi went global, what keeps it from really challenging the US dollar as a reserve currency?