Bloomberg with this piece while we await the USD/CNY mid rate for the day (due just after 0115GMT) and China trade balance for June (due 0200GMT or some time ... the timing can be variable for this)
China's massive size and continued rapid growth mean that it's bound to climb up the world's economic and financial rankings, given time.So it's striking when one seasoned China watcher makes a call that the nation's currency won't ever truly rival the dollar -- at least, without an overhaul in political and regulatory structures that the Communist Party has made clear isn't up for discussion. So says former IMF China division chief Eswar Prasad, author of "Gaining Currency: The Rise of the Renminbi."
