Former IMF executive says China and the world need an internationalised yuan

A former IMF executive has called for the internationalisation of the yuan, China's currency, in a multipolar global economy. This means making the yuan a widely accepted currency for international trade and investments, alongside the US dollar. An internationalised yuan could support China's economic growth and provide an alternative to the US dollar, potentially stabilising the global financial system. This move could also reduce China's reliance on the US dollar and promote a more balanced global economy.

Why it matters

An internationalised yuan would increase China's economic influence and make the yuan a more attractive currency for international trade. This could lead to increased demand for the yuan and higher economic growth for China.

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