Professor Paola Subacchi, Chair of the Queen Mary Global Policy Institute's Advisory Board, wrote to the Financial Times on 4 April in response to an opinion piece by Martin Wolf entitled "A new world of currency disorder looms".
In the letter, Professor Subacchi argues that now is the time to rethink the governance of global money and questions the feasibility of an alternative to the international monetary system. She also suggests that the renminbi is not yet a fully fledged international currency, and that China's conundrum is to be a 'formidable competitor' to the US, but also dependent on the dollar.
Read the full letter in The Financial Times