The Financial Times (Chinese Portal) published a commentary by IEMS’ Edwin Lai on RMB internationalization. Specifically, Prof Lai spoke on the significance of the inclusion of the RMB in the IMF SDR currency basket, while maintaining that the currency still has a long way to go before it becomes a global currency. He also discussed how China can remove its capital account controls and prevent currency crisis, citing economics professor Barry Eichengreen at the University of California, Berkeley, on the term “original sin” to describe foreign currency debt as the source of various crises in developing economies.
Read the full article here: Financial Times (Chinese Portal) (Chinese Only)
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