Senior fellow Arvind Subramanian was mentioned in a Wall Street Journal opinion piece on the Chinese yuan.
From the Article
The title says it all: "Eclipse: Living in the Shadow of China's Economic Dominance." Arvind Subramanian's new book is a good example of a more aggressive line of argument regarding China—that it's not a matter of whether it will take over economic leadership of the world, but merely when. However, while the case for sheer size is strong, China's road to real financial influence promises to be far longer and rockier than the GDP numbers alone would suggest.
The argument for dominance has two prongs. The first is that China's economy will very soon be larger than either the U.S. or the EU. And second, as this happens the yuan will also naturally replace the dollar as the global reserve currency of choice, with profound consequences for international markets.
On the first issue, there is little debate since it's a matter of simple mathematics. China already has a $7 trillion economy, roughly half the size of the U.S. or the EU. If it can continue to grow, not at 10% or 11% as it did through much of the 2000s, but even at a more prosaic 6% or 7% in real terms, then in five years' time the Chinese economy could easily pass the $15 trillion mark, where the U.S. is today. Fast forward a few more years to the end of the current decade and China should already be larger than the U.S. and equal in size to developed Europe.