“The RMB’s inclusion in the SDR will inevitably produce a ‘ratcheting effect’ for our country’s opening up.”
– Zhou Xiaochuan,
Zhou’s comment was made in a recent interview with Caijing. Zhou thinks China is past the point of no return for opening up to the outside world, so the country will inevitably continue its integration with global markets. He’s trying to make the argument as forcefully as possible before he steps down in the coming months.