‘No way’ the yuan challenges the U.S. dollar—though it might gain ground against the yen and the pound, says Standard Chartered’s China CEO
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Despite its gains in global trade, the yuan isn’t going to replace the U.S. dollar in global reserve holdings any time soon, Standard Chartered China CEO Jean Lu argued on Wednesday, even as Beijing tries to encourage greater use of the Chinese currency.
“There is no way—at least in my career—for the RMB to challenge the USD,” she said during a media roundtable in Singapore.
But if the yuan isn’t quite ready to take the top spot, Lu suggested that other second-tier currencies might see com
“There is no way—at least in my career—for the RMB to challenge the USD,” she said during a media roundtable in Singapore.
But if the yuan isn’t quite ready to take the top spot, Lu suggested that other second-tier currencies might see com
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