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China’s role in the international monetary system on the eve of the Great quarantine

Author

Listed:
  • Irina Andreevna Bondarenko

    (Russian Foreign Trade Academy, Moscow, Russia)

  • Angelina Aleksandrovna Ryzhukhina

    (Russian Foreign Trade Academy, Moscow, Russia)

Abstract

The role of China’s national currency as an international currency in the modern and very dynamic world was determined in 2016 when the yuan became part of the special drawing rights (SDR) currencies. Experts believe that yuan is significantly undervalued as China manipulates its exchange rate in order to maintain its leadership in world exports. Resentment of Western countries and especially in the USA that are loathe to losing the dollar’s role of a global reserve currency. The coronavirus suddenly intervened into the ongoing trade and currency war between the United States and China.

Suggested Citation

  • Irina Andreevna Bondarenko & Angelina Aleksandrovna Ryzhukhina, 2020. "China’s role in the international monetary system on the eve of the Great quarantine," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 6, pages 83-88, June.
    • Handle: RePEc:alq:rufejo:rfej_2020_06_83-88
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