If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo
If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

China has a golden opportunity to become Asia’s monetary power

As Beijing reduces its reliance on the US dollar for international trade, it may be seeking to overcome the yuan’s credibility problem by anchoring it to gold

Tom Holland
Tom Holland

Updated: 7:52am, 8 Oct, 2018

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If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo
If China is unsure of earning enough US dollars to pay for its imports, it no longer makes sense for Beijing to manage the value of the yuan against the US dollar. Photo: Kyodo
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Tom Holland

Tom Holland

Tom Holland is a former SCMP staffer who has been writing about Asian affairs for more than 25 years