ABSTRACT
Xi Jinping's actions show that his international dream involves China asserting itself as "a" world leader in the arenas of trade and currency exchange. The International Monetary Fund (IMF) was set up in 1944 with the explicit goal of creating and maintaining a stable international currency market. Xi inherited an economy that avoided the Great Recession of 2007–2008 by massive government investments and by credit growth. As Xi's government has tried to address its current economic slowdown by using the strategies, China's excess capacity has surged even more. China's legislature passed an antimonopoly law in August 2007, which took effect in August 2008. The US Federal Reserve System raised US interest rates for the first time in a decade on December 16, 2015; meanwhile, China was cutting interest rates in order to stimulate its economy. By May 2016, Xi Jinping had decided to table plans to let the market determine the value of the Chinese yuan.
