On Saturday, the yuan will officially be declared an elite global reserve currency

October 1, 2016, the International Monetary Fund (IMF) will officially anoint the RMB as a major global reserve currency by including it in the basket of currencies that make up the Fund’s international reserve assets, known as special drawing rights (SDRs). But is hype of the RMB’s rise overblown? Could it ever supplant the U.S. dollar as the dominant global reserve currency? Can an ascendant RMB withstand the risks of a slowdown or hard landing in China? .... https://www.brookings.edu