OMFIF’s most read 2020: China’s dollar pragmatism, After the Covid-19 recession
Tuesday 5 January 2021 – Vol.12 Ed.1.2
The year’s top stories: China’s dollar pragmatism
By Kathleen Tyson in London
Speculation about the dollar’s decline is premature. The global financial plumbing will not change quickly. It took a century of New York banks’ financial activism and extensive global interbank innovation and collaboration to make the dollar a hegemonic currency. It will only lose its status if Chinese...