This US survey examines (a) Use of the renminbi in world trade, as a reserve currency, and/or for foreign bond denomination is likely to increase substantially relative to the dollar over the next ten years; (b) Ceteris paribus, a shift to a more multi-polar international monetary system would have substantial negative implications for the US economy
Keyword: currency reserves
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This week’s IGM Economic Experts Panel statement:
Experience over the past 30 years shows that for the typical emerging market nation facing rapid capital outflows, spending foreign currency reserves to defend its currency is a better policy for its citizens than not doing so.
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