Dan McDowell on *Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar*
Macro Musings with David Beckworth
00:00
The Role of China in the Internationalization of the RMB
There's a lot of talk about the internationalization of the Chinese currency. China has put forth efforts to make their own payment system. They have a long way to go, and I'm not sure they're ever going to get there at least in terms of a real rival to the dollar. The interest in China here is almost entirely defensive, okay? You've seen what the United States has done against Russia, Iran, other adversaries.
Transcript
Play full episode
