Opinion: Taiwan will never be a renminbi hub
Taiwan may have ambitions of becoming an offshore renminbi trading centre – with China fanning the flame – but Taiwan shouldn’t bet on it transpiring.
Improving political and business relations between Taiwan and China has fuelled Taiwan’s well-publicised aspirations of becoming an offshore renminbi hub, but existing political rifts, competition from better-placed financial centres and China’s own agenda indicate that it will not achieve this status.
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