China’s Currency Joins the IMF’s Elite
Matthew Slaughter comments on news that China’s renminbi will be added to the International Monetary Fund (IMF) Reserve. "When you're a kid, there is a moment when you cross that line of enjoying being with your little cousins to wanting to be at the grown-up table," says Slaughter. "The grown ups set the rules. The grownups decide what the menu will be. In a very tangible sense, China is now more at the grown-ups table for policymaking than they were last week."