China must decouple from US economic policy. Shadowing the dollar is a sham and must be avoided at all costs, especially while America sets the bar higher on US interest rates. Photo: Reuters
Opinion
Opinion
Macroscope
Why the US dollar still reigns supreme and how the renminbi can knock it off its throne
David Brown says there are signs that the US dollar’s dominance as a reserve asset is on the wane but, for the renminbi to fill the gap, China must run a truly independent foreign exchange and monetary policy
China must decouple from US economic policy. Shadowing the dollar is a sham and must be avoided at all costs, especially while America sets the bar higher on US interest rates. Photo: Reuters