China's Path to Global Currency Status
Barry Eichengreen discusses the preconditions for a currency to become dominant globally, focusing on China's progress in terms of international trade, price stability, and liquidity. He highlights China's efforts to encourage the use of the renminbi in cross-border trade and the challenges they face in opening their financial markets to foreign investors. The goal of turning Shanghai into an international financial center by 2020 is discussed, with the recognition that China has the potential to achieve it faster than expected.In this clip
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EconTalk
Barry Eichengreen on the Dollar and International Finance
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