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Big ideas to help hard-hit nations; Why China doesn’t need global renminbi role

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Big ideas to help hard-hit nations; Why China doesn’t need global renminbi role

Tuesday 27 July 2021 – Vol.12 Ed.30.2

Commentary: How ‘financial adventurism’ can boost debt-hit nations

By David Marsh in Berlin

The G20 leading economy grouping should adopt more ‘adventurous’ policies on lending to hard-hit developing nations to help overcome global divergence generated by Covid-19. At the joint National University of Singapore-OMFIF seminar on ‘Debt sustainability and the future: Rebooting development finance’, leading economists and financial sector officials came together to discuss ideas for making better use of resources.

Read the full commentary on the website.

Commentary: Global renminbi role not now in China’s interest

By Mark Sobel in Washington

The renminbi’s global financial and reserve role remains a hot topic of conversation. Some argue the currency is coming of age and that a digital renminbi will propel it forward. Others believe the renminbi’s global role will remain quite modest for the foreseeable future. While Chinese authorities may find it beneficial to deprecate the dollar and the US role in the international monetary system, a major global role for the renminbi is not now in China’s interest.

Read the full commentary on the website.

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