NACHRICHT
26.04.2026KI-Zusammenfassung
Daniel Gros on Euro Lessons and Yuan Internationalisation Challenges
Daniel Gros, director of the Institute for European Policymaking at Bocconi University, explains why the euro failed to rival the US dollar and applies those lessons to the yuan. He identifies the dollar's 'lock-in effect'—its deep, open financial markets and network advantages—as the key barrier. Gros argues that international currency status requires open capital accounts, which means losing control over exchange rates—the same trade-off that made Germany reluctant to globalise the Deutschmark.
S
SCMP Economy