Why the RMB has failed to become an international reserve currency?

Why the RMB has failed to become an international reserve currency?

It is an international political economy essay.

The paper must address a single research question, present an argument, frame it in the relevant literature and include some empirical evidence to support it. The selection of a research question is the most important step and should be done in consultation with the Instructor. Ideally, a “puzzle” or a surprising outcome makes a good research question, but this is not necessary. The paper must ask a “why?” question. Selecting the dependent variable (the object of explanation) at the start of the process is a key for success.