RMB Set to Challenge Dollar and Euro Dominance in Global Trade
The article discusses the use of different currencies in international trade, focusing on the US dollar, euro, and Chinese RMB. It explains how trade plays a big role in making a currency popular internationally. The US dollar and euro are currently the main currencies used in trade, but the RMB is growing in importance. The paper shows that until the RMB catches up with China's global trade share, the US dollar and euro will remain dominant. The researchers believe that in the future, the RMB will become a major currency in international trade.