The Rmb In The Global Economy

Author : Barry Eichengreen
Publisher : Brookings Institution Press
ISBN 13 : 0815726120
Total Pages : 401 pages
Book Rating : 4.28/5 ( download)

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Download or read book Renminbi Internationalization written by Barry Eichengreen and published by Brookings Institution Press. This book was released on 2015-02-11 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Author : Yin-Wong Cheung
Publisher : Cambridge University Press
ISBN 13 : 1009236431
Total Pages : 119 pages
Book Rating : 4.30/5 ( download)

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Download or read book The RMB in the Global Economy written by Yin-Wong Cheung and published by Cambridge University Press. This book was released on 2022-12-08 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Element discusses the global role of the RMB. After recapitulating its economic and trade growth experiences, we recount China's evolving exchange rate policy in the post-reform era, review the debate over whether the RMB is overvalued or undervalued, present China's policies to globalize the RMB, describe offshore RMB trading, assess the current global status of the RMB, and discuss geopolitical tensions in the last few years. Since 2009, the process of globalizing RMB has not been smooth sailing and progressed quite unevenly over time. Despite the strong performance in the early 2010s, the RMB is under-represented in the global market and its global role does not match China's economic might. The path of RMB internationalization is affected by both China's economic performance and geopolitical factors.

Author : Chen Yulu
Publisher : McGraw Hill Professional
ISBN 13 : 0071829903
Total Pages : 177 pages
Book Rating : 4.08/5 ( download)

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Download or read book Chinese Currency and the Global Economy written by Chen Yulu and published by McGraw Hill Professional. This book was released on 2014-05-26 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: From ancient “knife money” to the Renminbi—a fascinating history of Chinese currency Chinese Currency and the Global Economy is an all-encapsulating study of the Chinese monetary system from the historical perspective of global economy and finance. From economic infrastructure to the cultural system and from world events to the domestic scene, author Chen Yulu describes the metamorphosis of the Chinese currency and examines what is entailed in the globalization of Renminbi against the background of world economic multi-polarization. Chen Yulu is an Eisenhower senior visiting fellow and a Fulbright senior scholar. He serves concurrently as president of Renmin University of China, vice-chairman of the China International Finance Association, and deputy secretary general and executive director of the China Society for Finance and Banking.

Author : William H. Overholt
Publisher : John Wiley & Sons
ISBN 13 : 1119218969
Total Pages : 248 pages
Book Rating : 4.68/5 ( download)

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Download or read book Renminbi Rising written by William H. Overholt and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critical analysis of RMB internationalization and the coming global currency shift Renminbi Rising charts the emergence of China's internationalizing currency and provides an in-depth analysis of the global repercussions. Written by a team of renown economics researchers, this book describes the pressures that enabled the emergence of a new global monetary system and why China's Renminbi (RMB) became the default 'second in line' as the U.S. receded from leadership. Policy makers and regulators will appreciate the examination of the motivations behind those driving the shift, and financial professionals will find valuable guidance in the discussion surrounding business opportunities that the RMB brings to the table. Coverage includes the emergence of new Chinese-sponsored financial institutions, the scale of various RMB businesses and the coming transformation of the global financial system. Effective management of international monetary affairs has never been more fundamental to the global economic recovery. The rapid emergence of China's RMB is a transformative event of global significance, and this book provides the context you need to understand the depth and breadth of changes on the horizon. Understand why a new global monetary system is needed Consider the outcomes as China emerges and the U.S. recedes Learn the context and motivations behind principal players' strategies Discover the scale of opportunities presented by the rise of the RMB It is essential for finance professionals and economic policy makers to understand the drivers, progress and likely trajectory of the RMB internationalization and to fully grasp the implications for the global financial system, international business and supporting financial products and services. Renminbi Rising offers detailed analysis of the key opportunities and threats inherent in this major economic shift.

Author : Eswar Prasad
Publisher : Oxford University Press
ISBN 13 : 0190631058
Total Pages : 345 pages
Book Rating : 4.55/5 ( download)

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Download or read book Gaining Currency written by Eswar Prasad and published by Oxford University Press. This book was released on 2017 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's currency, the renminbi (RMB), has taken the world by storm. The RMB is well on its way to becoming a significant international currency, one that is used widely in international trade and finance. This book documents the RMB's impressive rise, with China successfully adopting a unique playbook for promoting its currency. China's growing economic might, expanding international influence, and the rise of its currency are all intricately connected. The book documents how China's government has tied these goals together, enabling faster progress towards each of them. But there are many pitfalls ahead, both for China's economy and its currency. The book shows how the government has so far navigated its way around domestic and international dangers, but enormous risks still lie ahead. The International Monetary Fund has elevated the RMB to the status of an official reserve currency, a currency that foreign central banks use to keep their rainy day funds. If China plays its cards right, with reforms that put its economy and financial markets on the right track, the RMB is going to become an important reserve currency that could rival some of the traditional reserve currencies such as the euro and the Japanese yen. But this book argues that there are limits to the RMB's ascendance-the hype about its inevitable rise to global dominance is overblown. The Chinese leadership's apparent commitment to financial sector and other market-oriented reforms-coupled with unambiguous repudiation of political, legal, and institutional reforms-sets the RMB on a clear course. It will attain the status of a reserve currency over time but has essentially given up its claim of being seen as a safe haven currency, one that investors turn to for safety. The RMB will erode but not seriously challenge the U.S. dollar's dominance in international finance.--

Author : Edwin L.-C. Lai
Publisher : Cambridge University Press
ISBN 13 : 1108491685
Total Pages : 347 pages
Book Rating : 4.86/5 ( download)

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Download or read book One Currency, Two Markets written by Edwin L.-C. Lai and published by Cambridge University Press. This book was released on 2021-07-08 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic analysis of the future of the international monetary system and the USD, and the rising importance of the RMB.

Author : Yulu Chen
Publisher :
ISBN 13 : 9789814599771
Total Pages : 163 pages
Book Rating : 4.78/5 ( download)

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Download or read book Chinese Currency and the Global Economy written by Yulu Chen and published by . This book was released on 2014 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Hyoung-kyu Chey
Publisher : Routledge
ISBN 13 : 1000473430
Total Pages : 186 pages
Book Rating : 4.38/5 ( download)

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Download or read book The International Political Economy of the Renminbi written by Hyoung-kyu Chey and published by Routledge. This book was released on 2021-11-10 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this book addresses the question of how foreign states have responded to the renminbi’s internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring the international politics of currency internationalization. It builds a theoretical framework for analyzing a state’s policy toward renminbi internationalization, developing the key concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States. This book reveals that all four of these countries have deliberately utilized their policies related to renminbi internationalization as means of achieving their own foreign policy goals associated with China, goals that have been principally economic in some cases but political in others. Remarkably, the predominant mode of response to the renminbi’s internationalization has been accommodative. Even the United States and Japan—China’s chief geopolitical and also international currency rivals—have never attempted to actively suppress it. This study provides new insights to anyone concerned with the transformation of the world monetary order, while also contributing a valuable analysis of the international politics surrounding the rise of China.

Author : Yuanzheng Cao
Publisher : Springer
ISBN 13 : 9811308004
Total Pages : 213 pages
Book Rating : 4.00/5 ( download)

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Download or read book Strategies for Internationalizing the Renminbi written by Yuanzheng Cao and published by Springer. This book was released on 2018-08-29 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the theoretical framework for the evolution of the international monetary system and the internationalization of the RMB. Combining theoretical research and empirical study, it then provides an in-depth analysis of the relevant issues from multiple perspectives based on this framework. Written by former chief economist at the Bank of China, this book explains the “two-step strategy” from the capital account opening to the full convertibility of the RMB, it also analyzes the status and functions of the HK offshore financial market in internationalizing the RMB.

Author : Tao YUAN
Publisher : Springer
ISBN 13 : 9811079935
Total Pages : 94 pages
Book Rating : 4.31/5 ( download)

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Download or read book The Dual-Center Global Financial System written by Tao YUAN and published by Springer. This book was released on 2018-01-29 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the systematic change in the global economy accompanying the rise of China. Once China has the same huge and advanced economy as the U.S., the global economy’s current one-center system will have a chance to change: China will represent an alternative center. If it can satisfy essential criteria for the global economy such as a stable foreign exchange system, healthy international trade environment and strong support for economic development etc., China will be able to offer a viable alternative. In this constellation the two centers of the global economy and financial system, the U.S. and China, would ideally cooperate, and the global economy could benefit from having two economic and financial centers.