1) Some people are arguing that the Chinese Yuan Renminbi (CNY) could take over the US dollar and the Renminbi will become the next reserve currency. Please read the following articles: Frankel, J. (2011). The rise of the Renminbi as international currency: Historical precedents. Retrieved May, 2012, from http://www.voxeu.org/index.php?q=node/7075 US Department of Treasury (2012). Renminbi as the next reserve currency: Potential, challenges, and implications. Retrieved May, 2012, from https://infocus.credit-suisse.com/data/_product_documents/_articles/342047/Amia_Liu.PDF Oliver, C. (2012). China?s Yuan set for more international role. Retrieved May, 2012, from http://articles.marketwatch.com/2012-01-26/investing/30734300_1_chinese-currency-yuan-currency-policy Based on your analysis and findings, will Renminbi replace the US Dollar as the world's most popular currencies to hold? Will Renminbi become the next reserve currency? Why? Please explain your reasoning.
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