Geoffrey Yu: Questioning the New Renminbi World Order

The video discusses the challenges faced by traditional Bretton Woods institutions like the WTO, the rise of the AIIB, and its impact on US relations. It explores the dynamics of the Chinese RMB, the strength of the US dollar, and the implications of currency control. The discussion also covers economic confidence in China, expectations, and the importance of institutional frameworks for currency internationalization.

What was the main reason for the failure of traditional Bretton Woods institutions according to the transcript?

• Lack of support from emerging markets

• Over-reliance on the US dollar

• Inability to adapt to technological changes

• Failure to address climate change

What is a significant concern for the US regarding the AIIB?

• Trade barriers

• Environmental regulations

• Increased military presence

• Loss of economic influence

Why is the RMB's internationalization questioned in the transcript?

• Lack of global demand

• Chinese citizens moving money overseas

• High inflation rates

• Political instability

What is one of the reasons the PBOC believes the RMB should not appreciate?

• Low foreign investment

• Decreasing exports

• High current account surplus

• Rising inflation

What is necessary for the RMB to gain international trust according to the transcript?

• Government subsidies

• Higher interest rates

• Institutional and market reforms

• Increased foreign reserves