Crypto
Harvard economist says China\'s yuan could rise to reserve currency status within five years
Harvard University economist Kenneth Rogoff said China’s yuan could emerge as a major reserve currency within the next five years. He pointed to President Xi Jinping’s push for yuan internationalisation and a shift among global investors to reduce reliance on the U.S. dollar. Rogoff said China would need to open its government bond market further and strengthen trading infrastructure, liquidity and derivatives. He also urged building payment networks less dependent on SWIFT, and said crypto’s role is largely limited to informal economies.
