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More needed for yuan to go global

China needs to open up its domestic market so that its currency can flow freely between that and the rest of the world, hastening its emergence as an investment currency.

China needs to hasten reforms to raise the efficiency of its domestic capital markets. These are big and growing fast, but still punch well below their weight domestically and internationally.

FOR the renminbi to go truly global, it needs more than just cross-border trade flows. China needs to make giant strides in the opening of its domestic market to allow the renminbi to flow more freely between its domestic markets and the rest of the world. This will speed up the currency's...

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