Does Internationalizing the RMB Make Sense for China?
RMB internationalization will have long-term benefits, but for now China should focus on the intrinsic value of financial reforms rather than their role as prerequisites to internationalization
RMB internationalization will have long-term benefits, but for now China should focus on the intrinsic value of financial reforms rather than their role as prerequisites to internationalization
Policy distortions, shifting labor migration patterns, and higher education enrollments are creating labor shortages and skill-mix problems in China.
Beijing should focus more on individual market reforms and worry less about internationalizing the yuan.