To envision the lines below are not all that easy but also not harm in saying it now. But the relevancy is more complex even than the dollar experience as a international currency!
"Once again, China needs to take its stance on this matter before the goal of an international yuan is materialised. The dollar, euro, yen and the pound have been on the centre stage for many years. The rise of the yuan and even the Indian rupee is certain. The Chinese have started making their moves for internationalisation of the yuan although the euphoria over the baby steps towards internationalisation has no economic significance until macroeconomic policy challenges are resolved.
India, with similar macroeconomic policy issues in this regard, will eventually have to start thinking about putting the rupee on the global platform."
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To envision the lines below are not all that easy but also not harm in saying it now. But the relevancy is more complex even than the dollar experience as a international currency!
"Once again, China needs to take its stance on this matter before the goal of an international yuan is materialised. The dollar, euro, yen and the pound have been on the centre stage for many years. The rise of the yuan and even the Indian rupee is certain. The Chinese have started making their moves for internationalisation of the yuan although the euphoria over the baby steps towards internationalisation has no economic significance until macroeconomic policy challenges are resolved.
India, with similar macroeconomic policy issues in this regard, will eventually have to start thinking about putting the rupee on the global platform."
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