Renminbi Internationalization
Achievements, Prospects, and Challenges
- Editore:
Brookings Institution
- EAN:
9780815726111
- ISBN:
0815726112
- Pagine:
- 388
- Formato:
- Paperback
- Lingua:
- Inglese
Descrizione Renminbi Internationalization
"A Brookings Institution Press and Asian Development Bank Institute publication 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. "
