China Must ‘Think Carefully’ About Yuan as Reserve Currency, WB’s Lin Says
China needs to “think carefully” about whether to make the yuan a reserve currency as the nation is still a middle-income country and its capital markets are not sophisticated, Justin Lin, the World Bank’s chief economist, said in Beijing.
There’s no question that the status of the yuan should improve, as the nation is now the world’s second-largest economy, he said at a forum.
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