A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua
A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua
David Brown
Opinion

Opinion

Macroscope by David Brown

Coronavirus boost to the US dollar shows China must do more to win global trust in the renminbi

  • To change investor psychology towards the renminbi, Beijing must not only improve monetary policy transparency and open financial markets, but also support international bodies like the IMF and World Bank

A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua
A woman holds up US dollar and renminbi banknotes in Qionghai, in south China’s Hainan province, in 2016. The coronavirus crisis has seen investor flight to the US dollar and downward pressure on the renminbi. Photo: Xinhua
READ FULL ARTICLE