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Barry Eichengreen | The Legacy of the Great Moderation: Currency, Populism, and Credit

Hidden Forces

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Is the Redmond B Really a Real Weapon?

Rinmin B accounts for less than 2% of global foreign exchange reserves so far as we can tell. And the dollar accounts for 60%. But China will be the largest economy in the world within the next decade. It already is the largest trading country, and it is slowly developing its financial markets. They're not very open to the rest of the world. Things that will have to change for the Rinmin B to become a true first class international currency.

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