, Columnist
China's "Global" Currency Goes Local
Few investors and companies seem to want to use the yuan.
The yuan is being used in fewer international transactions than before.
Photographer: Zhang Peng/LightRocket/Getty ImagesThis article is for subscribers only.
Last week’s decision by MSCI not to include Chinese shares in its primary emerging-markets stock index has been viewed -- widely and rightly -- as a blow to China’s hopes of internationalizing its financial sector. There’s worse news, though: Even the progress China’s made thus far is in danger of going into reverse.
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