Could the Renminbi replace the dollar as an international medium of exchange? In his latest Economic Outlook, John Makin explains why such fears are premature and unwarranted.

A full-fledged international role for the yuan, as a store of value as well as a medium of exchange and unit of account, is highly unlikely in the near term.

Yes, China manipulates its currency, but it’s a form of generous foreign aid to Americans.

There is a disconnect between U.S. policymakers' sense of what global rules of economic conduct ought to say and what they actually say, and a meeting with a pre-set mandate to address imbalances would offer the best opportunity to defuse some of those festering tensions.

Leading WTO and trade-law experts will address whether legislative proposals would violate existing WTO rules and whether a U.S. case against Chinese currency practices could succeed before the WTO.

The modest appreciation of China's currency should not cause much change and China must do more to prevent an international protectionist backlash.