Trade war may delay renminbi as reserve currency, says reserves manager
Central banks are cautious when building renminbi reserves due to legal and liquidity issues
The adoption of renminbi as a reserve currency has been slow despite China’s internationalisation efforts – and the US-China trade standoff could further delay the process, said a reserve manager at an Asian central bank.
“Issues with capital immobility, exchange rate flexibility, lack of familiarity with local laws, property right and regulations, among others, have all played a part in keeping renminbi from becoming a truly global currency,” said the reserve manager, who was participating at
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