Making renminbi a world currency would not be bad for euro

Behind the facade, there has been much debate about the inclusion of the Chinese currency – the renminbi (RMB) – as the fifth international reserve currency.

Initially, Beijing hoped that, after the International Monetary Fund’s (IMF) long-anticipated November meeting, the RMB could be added into the international currency basket by 1 January, 2016.

After China’s growth deceleration, and the boom and correction of its equity markets, the Fund’s experts recommended in early August...