14 July 2019
- RSIS
- Media Mentions
- 3 Things You Need to Know About the Rise of China’s Renminbi as the World’s Reserve Currency
3 Things You Need to Know About the Rise of China’s Renminbi as the World’s Reserve Currency
In a report launched on July 4 in commemoration of the 75th anniversary of the Bretton Woods system, Wolfensohn says China – already the world’s second-largest economy – will be one of the emerging nations that will “demand a leading position in the organisation of the international community.” The renminbi currently ranks fifth among the top currencies used for international payments. In addition, Assoc Prof Li Mingjiang at RSIS said that the wealthy in China have transferred their wealth and financial resources overseas over the years.
IDSS / Online
Last updated on 16/07/2019
