Future is now for a free-floating renminbi

A market-driven yuan once seemed a long way off, but as China increasingly becomes the champion of globalisation, can Beijing step up to the plate?

EDITOR'S LETTER


Until recently, the idea of a Chinese currency whose value is determined by the market rather than the Communist Party was up there with cold fusion reactors, hydrogen-powered cars and jet pack commuting. Fast forward one year, however, and it’s...

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