Regarding RMB’s internationalization and China’s financial reforms, Lai says "China is in a Dilemma"
Russia’s invasion of Ukraine will have only a limited impact on Beijing’s push to internationalise the yuan, and its long-term success as a more widely utilised global currency will need to run parallel with China’s deeper financial reforms, according to analysts. "China is in a dilemma. On the one hand, it badly wants to internationalise its currency. But on the other hand, it is quite reluctant to open its capital account and liberalise its financial sector," said Edwin Lai, the author of One Currency, Two Markets: China’s Attempt to Internationalize the Renminbi and an economics professor at Hong Kong University of Science and Technology.
Read the news article on SCMP, DW (In German) and The Economist published on 9 March 2022.
