Bloomberg reports that China is about to set 2020 as a deadline to go international. Making the remnibi fully convertible is on the Communist Party agenda next week, and is expected to be on the 13th Five Year Plan.
For the moment, China in theory has an inconvertible currency. Movement of capital is controlled.
A floating Chinese currency of the second biggest economy in the world is likely to make it to the international basket of reserve currencies. That is Beijing’s objective. On the o...
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