Michael Pettis says "no". But that doesn't mean the RMB doesn't matter. It does. Just not so much for the US or EU or the broader currency reserve and exchange system. It matters more for China's competitors in global export markets.
Read the whole thing. I'm looking forward to Pettis' forthcoming book as much as any scheduled for next year.
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Wednesday, November 28, 2012
Is There An Asian RMB Bloc?
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