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."
Though Beijing would like to see the yuan supplant the dollar as the world’s premier international currency, China’s currency faces a steep uphill battle.
After a surge in American buying in China to beat the tariffs before they took effect, the shipping news in April and May reveals the significant downside.
Chinese exporters, having lost the U.S. market and facing difficulties in Europe, are looking to the developing world for sales—but there are challenges.