Xi Has Made China’s Currency Ambition Explicit

What changes when China’s leader finally states a reserve currency ambition explicitly? Xi Jinping has now done so, calling for the renminbi to attain global reserve currency status, not in a speech to foreign investors or at an international summit, but in Qiushi, the Chinese Communist Party’s flagship ideological journal.The language, drawn from a speech Xi delivered to senior regional officials in 2024, was published only recently. That timing is part of the signal. Qiushi is not a platform for trial balloons or external messaging. It is where the party formalizes priorities once internal consensus has formed, often well after an idea has circulated

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