By Jing Guan, bostonese.com columnist
China has been blamed for America’s debt crisis while, at the same time, trying to gradually increase the value of the RMB. However, RMB appreciation alone is not the answer to America’s debt crisis. Many economists, including Noble Prize Laureate Joseph Stiglitz, argue for a new global reserve currency. The next big question is: which economy will issue this new global reserve currency?
China’s digital RMB is under public testing.
(more…)