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The Japanese yen offers lessons for China on how difficult it can be to rival the U.S. dollar’s status as a global reserve currency

4 weeks ago
Sky Canaves
t will be difficult for the Chinese yuan to become a major reserve currency without a greater commitment to opening up financial markets, says Arthur Kroeber of research firm Gavekal Dragonomics.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.

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