Authors: Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics, and Olin L. Wethington
January/February 2012
Foreign Affairs
China seems to want the yuan to dethrone the dollar as the global reserve currency. But don't expect China's currency to take over anytime soon. The yuan will rise, but far slower than predicted, and Beijing's puzzling efforts to help it along reveal flaws in the government's divided and incremental approach.
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