The transition to zero emissions will involve three simultaneous economic processes

A new allocation of US$650 billion in Special Drawing Rights (SDRs) by the International Monetary Fund (IMF) to its member countries has entered into force last Monday

There has been a mismatch between rising financial wealth and the pace of creation and incorporation of new assets

Current account deficits in the global economy widened in 2020 during the pandemic but the misalignment between fundamentals and current account balances has not been exacerbated.

Chinese currency as a full reserve currency will only happen when confidence in its convertibility is sufficient to convince unofficial (private) investors to hold much more reserves denominated in it