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OMFIF: Gold and the future of the global reserve currency system

Michael Kitson, University Senior Lecturer in International Macroeconomics at Cambridge Judge, was a guest panellist on a podcast of the Official Monetary and Financial Institutions Forum. Michael talked about the state of the gold market and the internationalisation of China’s renminbi (RMB) currency. “We should look longer term here,” said Michael. “The RMB is not fully convertible yet, but if you look at the long-term trajectory of the world economy, the world is shifting from West to East. Part of that will see shifts in the international monetary system, so we will see in the long term the RMB being more internationised than it is at the moment and becoming more important as a reserve currency.”

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