For a yuan in deeper markets, ex-Fed’s Evans cites dollar playbook amid risks, criticism

China has a unique window to internationalise its currency by deepening domestic financial markets, according to a former senior US central bank official who pointed to the evolution of the US dollar and the euro for lessons to be gleaned. The comments from Charles Evans, former president of the Federal Reserve Bank of Chicago, provide a fresh perspective in the growing discussion over whether and how the world’s second-largest economy can transform the yuan into a global currency. Speaking o...

By Alice Li