Investors are unlikely to view the renminbi as a safe-haven currency in times of global financial turmoil. That requires trust.
ITHACA — A few years ago, China’s currency seemed to be rising inexorably to global dominance. The renminbi had become the fifth most important currency for international payments, and in 2016, the International Monetary Fund included it in the basket of major currencies that determines the value of Special Drawing Rights (the IMF’s global reserve asset).
Since then, however, the renminbi’s progress has stalled. Its share of international payments has fallen below 2 percent, and the s
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
What is so hard about making chips in America? And can the U.S. do anything about it? As part of his series, 'Remaking the Chain,' Luke Patey went searching for answers from America's past and from the last country to threaten its mantle as the world’s leading economy.
The political scientist and sinologist talks about the early days of the pandemic in Wuhan, and how the Chinese authorities’ lack of transparency led the virus to spread rapidly.
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.