Achievements, Prospects, and Challenges
Edición de la obra Renminbi Internationalization
| Autor | Barry J. Eichengreen, Masahiro Kawai |
|---|---|
| Editorial | Brookings Institution Press and ADBI |
| Fecha de publicación | Feb 11, 2015 |
| Idioma | inglés |
| Páginas | 388 |
| Formato | paperback |
| ISBN-13 | 9780815726111 |
| ISBN-10 | 0815726112 |
| OCLC | 884299436 |
| LCCN | 2014036716 |
| Número de Cutter | E34r |
|---|
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.--