William Bratton is author of "China's Rise, Asia's Decline." He was previously head of equity research, Asia-Pacific at HSBC.
Beijing's motivations are more geopolitical than economic


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.