RMB as Reserve: Rebalancing the Global Financial System

If the account of the 20th century was written in dollars, the account of the 21st will be bilingual, dollars and yuan.

As the center of global economic gravity moves eastward, the dollar and many of the policy assumptions that its six decades of unquestioned global supremacy have fostered are about to face their first serious challenge, but the rise of a new reserve currency will also allow investors and central banks to diversify their portfolios.