Renminbi Internationalization

Achievements, Prospects, and Challenges

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, International
Cover of the book Renminbi Internationalization by , Brookings Institution Press
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Author: ISBN: 9780815726128
Publisher: Brookings Institution Press Publication: February 11, 2015
Imprint: Brookings Institution Press and ADBI Language: English
Author:
ISBN: 9780815726128
Publisher: Brookings Institution Press
Publication: February 11, 2015
Imprint: Brookings Institution Press and ADBI
Language: English

Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.

Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing the Chinese economy, developing the country's financial markets and opening them to the rest of the world, and moving to a more flexible exchange rate. In other words, the internationalization of the renminbi is a monetary and financial issue with much broader supra-monetary and financial implications. This book offers a new perspective on the larger issues of economic, financial, and institutional change in what will eventually be the world's largest economy.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.

Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing the Chinese economy, developing the country's financial markets and opening them to the rest of the world, and moving to a more flexible exchange rate. In other words, the internationalization of the renminbi is a monetary and financial issue with much broader supra-monetary and financial implications. This book offers a new perspective on the larger issues of economic, financial, and institutional change in what will eventually be the world's largest economy.

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