04/04/2016
Nicola Casarini and Miguel Otero-Iglesias explain the strategy behind all-out support for the Chinese currency.
The Chinese are losing confidence in their currency, the renminbi, but that hasn't stopped the West – and Europe in particular – from doubling down on it. Europe's efforts to turn the renminbi into a viable reserve currency could succeed, but only if China embraces further market liberalization.