Foreign policy from the prism of currency
China has chosen the right time to step up its efforts to make the yuan a global currency
It is the season of high-profile conferences. At the IISS Shangri-La Dialogue held at Singapore recently, Prime Minister Narendra Modi outlined his vision for the Indo-Pacific region, extending from the shores of Africa to the Americas. Among other things, Modi noted that infrastructure projects must empower nations and should not place them under impossible debt burden. This was a veiled criticism of China’s debt diplomacy.