renminbi

The Renminbi is a credible threat to the dollar.

The Chinese central bank would not bat an eye if it had to devaluate the Renminbi forty percent.

The Renminbi represents a real (but not grave) threat to the dollar and established economic dominance.

This helps to provide backing for the Chinese Yuan Renminbi (CNY) as a regional reserve currency, serving a geopolitical interest.

Every criticism of the Renminbi you've put forward applies equally or greater to the dollar.

It's as that comment said, basically just a way to turn Renminbi into Dollars without the Chinese government knowing about it.

The Euro is in no fighting shape, and an eccessive strengthening of the Renminbi would have catastrophic domestic effects in China (hence the Chinese government would simply not allow that to happen).

Does the US worry that it can't directly control the production of renminbi?

A Chinese citizen could conceivably bypass those controls by (1) depositing renminbi (i.e.

If I want to invest in investment-grade bonds denominated in renminbi, there's an ETF for that.

From the perspective of taking renminbi and converting it in to something that can be sold with dollars -- it doesn't need to be economical.

I believe you missed my point which was that people do not speculate that the Renminbi might be replaced by the US dollar.

And then of course, there's currencies of states that have little qualms of open currency manipulation like the Renminbi.

The Chinese government wouldn't really want either though, given the games they play with the Renminbi.

Maybe Snowden's error is doing the right thing as opposed to making a few Renminbi.