This week on Sinica, Kaiser and Jeremy welcome Diana Choyleva and Dinny McMahon, who recently published a report for the Wilson Center on China's efforts to internationalize the Renminbi, its currency. Diana Choyleva is chief economist and founder of Enodo Economics, an independent macroeconomic forecasting consultancy she set up in 2016. Dinny McMahon is a former Wall Street Journal reporter and author of the book China's Great Wall of Debt. Their report is called “China’s Quest for Financial Self-Reliance: How Beijing Plans to Decouple from the Dollar-Based Global Trading and Financial System.”
2:38 – The advantages the U.S. enjoys through the dollar’s global primacy
4:40 – How Beijing sees the dollar’s dominance as a strategic vulnerability
7:11 – Other countries who actively pursued internationalization of their currency
10:07 – International trust deficit regarding China’s currency
13:37 – Right-sizing China’s currency ambitions
15:13 – How China incentives increased demand for the RMB
24:19 – Are we currently at a critical turning point of currency displacement?
36:42 – The role of digital currency in China’s monetary strategy
43:42 – The BRI as a mechanism for expanding the circulation of the RMB
A transcript of this podcast is available at TheChinaProject.com.
Recommendations:
Jeremy: This is Going to Hurt: Secret Diaries of a Junior Doctor by Adam Kay; Kay's Anatomy by Adam Kay
Diana: Picking up dancing as a pastime; China: The Gathering Threat by Constantine Menges
Dinny: Lombard Street by Walter Bagehot
Kaiser: The Amazon miniseries The English
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
After the War: Scenarios China faces when the Russo-Ukrainian War eventually ends
Susan Thornton on the urgent need for diplomacy with China over the Russo-Ukraine War
Chinese international relations scholar Dingding Chen on Beijing's position in the Russo-Ukrainian War
China's soft power collides with the hard realities of the Russo-Ukrainian War: A conversation with Maria Repnikova
China’s Ukraine conundrum, with Evan Feigenbaum
Biden's China policy needs to be more than "Trump lite:" A conversation with Jeff Bader
Veteran diplomat Bill Klein recalls the turbulent Trump years at the U.S. Embassy in Beijing
What China is reading and why it matters: A conversation with author Megan Walsh
China's ideological landscape, with Jason Wu
Why the law matters in China, with Jeremy Daum of Yale's Paul Tsai China Law Center
Personality and political discontent in China, with Rory Truex
Dan Wang on China in 2021: "Common prosperity," cultural stunting, and shortcomings of the "modal China story
Mental models for understanding complexity, with Anthea Roberts and Nicolas Lamp
The sociologist watching the China-watchers: A conversation with David McCourt
Damien Ma of MacroPolo on China's economic and political outlook
The investigative team from MIT Technology Review that found major flaws with the DoJ's China Initiative
FOCAC 2021 in Dakar, Senegal, and B3W — the U.S. counter to China's BRI?
Sinica presents the best of China Stories 2021
Revisiting the Red New Deal, with Lizzi Lee and Jude Blanchette (live at NEXTChina 2021)
The Carter Center's survey on Chinese perception, with Yawei Liu and Michael Cerny
Create your
podcast in
minutes
It is Free