Jeffrey Sachs: Digital currencies and RMB internationalization reshaping the global financial system

Jeffrey Sachs, a world-renowned professor of economics and director of the Center for Sustainable Development at Columbia University said in an exclusive interview with China Daily that the international monetary system is becoming increasingly diversified.

He predicted that the influence of the US dollar will significantly decline within the next 10 years. He addded that the internationalization of the renminbi and the rise of digital currencies will reshape the global financial landscape.