China's Plan to Decouple From the US Dollar | Diana Choyleva & Dinny McMahon

In Episode 286 of Hidden Forces , Demetri Kofinas speaks with Diana Choyleva and Dinny McMahon, the co-authors of a comprehensive new report that examines China's plans to decouple from the dollar-based global trading and financial system. In this conversation, Choyleva and McMahon discuss Beijing's rationale for wanting to transform the renminbi into an international currency, how the Chinese communist party is striving to make that transformation, why it might prove unattainable, and what progress we can expect them to make over the coming decade. Regardless of whether the yuan proves capable of challenging US Dollar hegemony, the changes that Beijing is pursuing will have a profound impact on the functioning of trade and financial markets around the world. These changes will create new challenges for governments, businesses, and investors. Understanding what these challenges are, the steps that Beijing will take to overcome them, and how policymakers in the US and Europe will respond is crucial to making any reliable forecast about the future of the international political economy. If you want to listen to the second part of this conversation, which includes a discussion about t…