McDowell examines the yuan's potential to challenge the dollar in World Politics Review
January 22, 2021
World Politics Review
In his latest piece, "Dollar Doomsayers Are Wrong—Again," published in World Politics Review, Associate Professor of Political Science Daniel McDowell explains why the Chinese yuan does not pose a threat to the dollar's reserve currency status. "Chinese financial reforms have undoubtedly boosted the yuan’s economic appeal over the past 10 years. Yet, at the same time, concerns about the Chinese political system are a major impediment to the yuan’s global competitiveness," says McDowell. "In the long run, the dollar is likely to outlive predictions of its demise not because of its inherent attractiveness, but because of its competitors’ flaws."
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