Thinking About China
Opinion

China’s Conflicting Monetary Policies

Beijing’s ambition to position the yuan as a powerful currency in global trade is facing renewed pressure.
China’s Conflicting Monetary Policies
A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong, eastern Jiangsu Province, China, on Aug. 28, 2019. STR/AFP via Getty Images
Antonio Graceffo
|Updated:
0:00
Commentary

The Chinese Communist Party (CCP) and Xi Jinping’s push to make the yuan a global currency is undermined by their policies, tight capital controls, suppressed exchange rates, and a strategy that prioritizes exports over monetary credibility.

Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.