Will the Chinese Renminbi Replace the US Dollar as the International Currency?

The “rise of China” on the international stage is virtually an undisputed fact. Some even speak of China ‘eclipsing’ the United States as the preeminent world power. One element of this would likely involve the replacement of the U.S. dollar by the Renminbi as the international currency. But how likely is this scenario to play out? Lily Jia subjects this hypothesis to analytical rigour.