Making the yuan a global currency is at the center of Chinese President Xi Jinping's ambition to create a "modern financial system with Chinese characteristics." That goal has faced challenges, however, including capital controls in China and the currency's limited convertibility.

Matteo Maggiori, Moghadam Family Professor of Finance at Stanford Graduate School of Business, and Bloomberg Intelligence Chief Asia FX and Rates Strategist Stephen Chiu speak on "Bloomberg: The China Show."

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