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renminbi

​A Chinese clerk counts RMB (renminbi) yuan banknotes at a bank in Lianyungang city, east China's Jiangsu province, on Aug. 11, 2015.
Analysis

Is China’s currency coming for the US dollar?

On Saturday, Chinese President Xi Jinping made it public: he wants the renminbi, China’s currency, to replace the dollar as the global reserve currency. But is this even possible?