Global domination of the dollar ending?

The paper points out that the relatively slow development of RMB as a reserve currency is taking place in parallel with expansion trade invoiced renminbi. It argued that, even absence financial liberalization, renminbi could still become global currency. Namely, leading status world creates potential for creating demand and supply Additionally, same direction working an increase number central banks which People's Bank China has agreements on swap lines foreign exchange, well accelerated offshore Yuan market. An important moment will be expected changes Chinese exchange rate regime, since end pegging to basket currencies transition inflation-targeting regime lead larger part Asia following using its more intensively. although currently exclusively domestic use, China's bank's digital eventually facilitate international use Consequently, it can concluded coming decades, dollar continue play predominant, but not, been, exclusive role monetary order.