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China reboots the internationalization of its currency

Beijing's motivations are more geopolitical than economic

| China
The internationalization of China's currency has been far slower than earlier anticipated.   © Ulrich Baumgarten/Getty Images

William Bratton is author of "China's Rise, Asia's Decline." He was previously head of equity research, Asia-Pacific at HSBC.

The emergence of China as an economic and financial powerhouse has been much quicker than often anticipated. Whether in terms of technological advances, industrial development, global trade or involvement in the capital markets, China's rise has been rapid and highly disruptive.

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