The New York Times quotes Global Business and Economics C. Boyden Gray Fellow Chris Brummer on one of the potential challenges of the growing popularity of China’s currency in the absence of thoughtful geostrategic planning—the possible circumvention of Western sanctions:

“As the renminbi rises, countries will have more choices about where they do their banking — and how to potentially circumvent sanctions,” said Christopher Brummer, a Georgetown University law professor specializing in currencies.”

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