Much as Beijing would like, it cannot use the yuan to help its economy, protect its trade from American tariffs, and serve the CCP’s global ambitions.
Headquarters of the People’s Bank of China, the central bank, in Beijing on Dec. 13, 2021. Andrea Verdelli/Bloomberg via Getty Images
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Commentary
At the moment, Chinese monetary and currency policies face a mish-mash of conflicting objectives, and it remains far from clear which way Beijing will move.
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
