The Sunshine Report

There is a lot of spec­u­la­tion that the dol­lar is los­ing ground to the Chi­nese ren­minbi and that sooner or later the Fed will share the global stage with Chi­nese mon­e­tary author­i­ties. Chi­nese gov­ern­ment offi­cials and Jere­miad west­ern eco­nomic fore­cast­ers who claim that the ren­minbi will replace the dol­lar as the world’s pre­mier cur­rency cer­tainly have not helped assuage Amer­i­can fears.

How­ever, con­trary to the increas­ingly shared belief that the Chi­nese are com­ing, the dollar’s sta­tus is not in dan­ger nor is the ren­minbi a real­is­tic hard cur­rency alternative.

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