Serving the Real Economy: From De-dollarization to RMB Internationalization?

Introduction In March, the yuan became the most widely used currency by China in cross-border payments, surpassing the U.S. dollar for the first time (Guancha, April 27). This rising usage of China’s currency has coincided with the government’s renewed push for “Renminbi (RMB) internationalization” (人民币国际化). On April 14, People’s Republic of China (PRC) President Xi Jinping and Brazilian President Lula …

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