currency
-
BRICS and the Shift Away from Dollar Dependence
•
For nearly a century, the U.S. dollar has dominated global trade and finance, accounting for 59% of global foreign exchange reserves as of 2024 (IMF, 2024). In response to this enduring dominance, BRICS — an alliance of five major emerging economies: Brazil, Russia, India, China, and South Africa — is…
-
Internationalizing the RMB
•
A 2012 report from the International Monetary Fund explains the conditions for and progress toward the internationalization of the Chinese renminbi (RMB).
-
iFlating the U.S. Trade Deficit with China
•
While designed and marketed in Cupertino, California, the iPhone is estimated to have contributed $1.9 billion to the U.S. trade deficit with China in 2009. This is the finding of Yuqing Xing and Neal Detert, two economists with the Asian Development Bank Institute.