"Econ 102" with Noah Smith and Erik Torenberg cover image

International Development, The Reserve Currency, and Xi Jinping’s Legacy

"Econ 102" with Noah Smith and Erik Torenberg

NOTE

Guard Your Currency's Value

Financial sanctions imposed by one country provoke concerns among others about potential future sanctions, prompting them to seek alternatives like the yuan. However, China resists this trend, as international usage of the yuan would diminish their control over its value, which they prioritize. This desire to maintain control underscores the delicate balance countries face between fearing sanctions and managing their own currency sovereignty.

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