A businessman walks past a RMB (renminbi) poster outside the Bank of China in Hong Kong on Sept. 5, 2011. Laurent Fievet/AFP/Getty Images
At the start of the new year, Chinese state media published an article by Chinese Communist Party (CCP) leader Xi Jinping urging China to establish a “strong currency” and achieve international reserve currency status for the renminbi.
A former International Monetary Fund (IMF) chief economist stated that Xi’s speech foreshadows a CCP push for the internationalization the renminbi.
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