“When China and Brazil sign an agreement like this, it’s trying to put into place the infrastructure that would make it possible to use China’s currency, but that doesn’t mean that individual firms are going to choose that,” says Daniel McDowell, associate professor of political science.
E. Doran, J. Golden, K. Matus, L. Lebel, V. Timmer, M. van ‘t Zelfde, A. de Koning
"The Emerging Role of Mega-Urban Regions in the Sustainability of Global Production-Consumption Systems," co-authored by Jay Golden, Pontarelli Professor of Environmental Sustainability and Finance, was published in npj Urban Sustainability.
"China wants to get a sense, are you really serious about figuring out some way of turning down the heat or not," says Dimitar Gueorguiev, associate professor of political science. "And they have reason to be suspicious on where we're going with the electoral cycle in the U.S. and how risky it is."
The Moscow summit has the effect of underscoring and reinforcing the status of “Russia as a junior partner with China—economically, militarily and diplomatically,” Robert Murrett, professor of practice of public administration and international affairs, tells the Associated Press.
Ryan Monarch, assistant professor of economics, says it would be more difficult for China's manufacturing industry to transition to the high-end amid deteriorating U.S.-China relations and the decoupling of business between the two countries.
While Russia’s use of the yuan doesn’t mean the end of dollar supremacy, it may usher in the beginning of a more fractured system that could ultimately blunt the U.S.’s ability to use financial sanctions as a weapon, says Daniel McDowell, associate professor of political science.