thisdaylive.com
Waiting and Waiting for the Global Renminbi - THISDAYLIVE
‘Great powers’, says the Nobel-laureate economist Robert Mundell, ‘have great currencies’. So where is China’s? In the years following the Great Financial Crisis things seemed to be looking up for the renminbi. By the middle of 2015, almost 30 percent of China’s trade was being settled in renminbi; Hong Kong banks were holding some RMB …