In Episode 286 of , Demetri Kofinas speaks with Diana Choyleva and Dinny McMahon, the co-authors of a that examines China’s plans to decouple from the dollar-based global trading and financial system. In this conversation, Choyleva and McMahon discuss Beijing’s rationale for wanting to transform the renminbi into an international currency, how the Chinese communist party is striving to make that transformation, why it might prove unattainable, and what progress we can expect them to make over the coming decade. Regardless of whether the yuan proves capable of challenging US Dollar hegemony, the changes that Beijing is pursuing will have a profound impact on the functioning of trade and financial markets around the world. These changes will create new challenges for governments, businesses, and investors. Understanding what these challenges are, the steps that Beijing will take to overcome them, and how policymakers in the US and Europe will respond is crucial to making any reliable forecast about the future of the international political economy. If you want to listen to the second part of this conversation, which includes a discussion about the digital renminbi, how Beijing is trying to institutionalize yuan outflows and increase international demand for the yuan, and policy prescriptions for Western governments you can do that by becoming a subscriber to one of our three content tiers at . All subscribers get access to our premium feed which you can listen to on your phone using your favorite podcast app just like you are listening to this episode right now. If you want to join in on the conversation and become a member of our Hidden Forces Genius community, which includes Q&A calls with guests, access to special research and analysis, in-person events, and dinners, feel free to send an email to [email protected], and Demetri or someone else from our team will get right back to you. If you enjoyed listening to today’s episode of Hidden Forces you can help support the show by doing the following: Subscribe on | | | | | | Write us a review on & Subscribe to our mailing list at Producer & Host: Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at Join the conversation on , , and at @hiddenforcespod Follow Demetri on Twitter at Episode Recorded on 12/01/2022