Will the Renminbi Rule? (Prasad & Ye)

Will the renminbi rule? by Eswar Prasad and Lei Ye published by IMF. “The Chinese economy is now the world’s second largest and a key driver of global growth. But among the currencies of the six largest economies in the world, china’s renminbi is the only one that is not traded easily and accepted worldwide – that is, it is not a hard currency.”