Renminbi Internationalization: Achievements, Prospects, and Challenges Contributor(s): Eichengreen, Barry (Editor), Kawai, Masahiro (Editor) |
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ISBN: 0815726112 ISBN-13: 9780815726111 Publisher: Brookings Institution Press OUR PRICE: $47.52 Product Type: Paperback - Other Formats Published: February 2015 |
Additional Information |
BISAC Categories: - Business & Economics | Foreign Exchange - Political Science | World - Asian - Political Science | Public Policy - Economic Policy |
Dewey: 332.45 |
LCCN: 2014036716 |
Physical Information: 0.93" H x 6.93" W x 9.1" (1.49 lbs) 402 pages |
Themes: - Cultural Region - Asian |
Descriptions, Reviews, Etc. |
Publisher Description: 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. |