According to the IMF, the US dollar accounted for 62 per cent and the renminbi 1.8 per cent of the world’s US$11.4 trillion in outstanding reserves. Photo: Reuters
David Brown
Opinion

Opinion

Macroscope by David Brown

How China’s yuan can gain ground against the US dollar and the euro as a global reserve currency of choice

  • David Brown says the yuan has a gap to fill as the dollar’s share as a reserve currency slips and concerns about the euro’s future persist. However, market liberalisation and a hands-off approach to the currency in China are crucial

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According to the IMF, the US dollar accounted for 62 per cent and the renminbi 1.8 per cent of the world’s US$11.4 trillion in outstanding reserves. Photo: Reuters
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