Renminbi Rising

Author : William H. Overholt,Guonan Ma,Cheung Kwok Law
Publisher : John Wiley & Sons
Page : 248 pages
File Size : 55,8 Mb
Release : 2016-02-16
Category : Business & Economics
ISBN : 9781119218968

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Renminbi Rising by William H. Overholt,Guonan Ma,Cheung Kwok Law Pdf

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 : Chen Yulu
Publisher : McGraw Hill Professional
Page : 177 pages
File Size : 43,6 Mb
Release : 2014-05-26
Category : Business & Economics
ISBN : 9780071829908

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Chinese Currency and the Global Economy by Chen Yulu Pdf

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 : Robert Minikin,Kelvin Lau
Publisher : John Wiley & Sons
Page : 212 pages
File Size : 44,5 Mb
Release : 2012-10-26
Category : Business & Economics
ISBN : 9781118339282

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The Offshore Renminbi by Robert Minikin,Kelvin Lau Pdf

The rise of the renminbi and what it means for forex markets Chinese authorities have ambitious plans to "internationalize" the renminbi, transforming it from a tightly controlled domestic legal tender into a global currency for international trade, held by both private and public sector asset managers. The Offshore Renminbi examines this impending currency revolution, outlining why the emergence of China as a major economic power will likely soon be matched by a transformation of the renminbi's role in the global financial system. It explains how new markets for "offshore" renminbi are developing outside mainland China since the country is not yet ready to fully open up its economy to international capital flows, and the regulations that govern them. The potential growth for the renminbi market is vast, thanks to China's role in the global trading community. The early stages of the internationalization effort were small-scale, but momentum has greatly increased over the past 18 months, making this book more relevant than ever. These developments offer new opportunities (and challenges) for corporate treasurers and investors, as China's profound economic success and growing prominence in global trade may transform offshore renminbi into a new global reserve currency and a legitimate competitor to the U.S. dollar. Explores how the "internationalization" of the renminbi is likely to yield a new global currency to rival the U.S. dollar Examines "offshore" renminbi and the host of new financial markets they have created, from a spot FX market to Dim Sum bonds in Hong Kong Covers broad themes of interest to general readers and policymakers, as well as more detailed issues of practical and direct importance to corporate treasurers and investors The Chinese government has ambitious plans to make the renminbi a global currency. The Offshore Renminbi explains the complexities of this strategy and the dramatic implications for the global FX markets.

Author : Eswar Prasad
Publisher : Oxford University Press
Page : 345 pages
File Size : 48,8 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190631055

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Gaining Currency by Eswar Prasad Pdf

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 : Yulu Chen
Publisher : Unknown
Page : 163 pages
File Size : 50,7 Mb
Release : 2014
Category : Monetary policy
ISBN : 9814599778

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Chinese Currency and the Global Economy by Yulu Chen Pdf

Author : C. Lo
Publisher : Springer
Page : 332 pages
File Size : 44,7 Mb
Release : 2013-07-08
Category : Business & Economics
ISBN : 9781137346254

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The Renminbi Rises by C. Lo Pdf

This book breaks new ground in research on the RMB's offshore market by addressing the myths, hypes and realities surrounding the rise of the Chinese Yuan. It is the first book to address the rise of the Renminbi by focusing on the structural factors behind it and drawing on the global, regional and domestic developments affecting its development.

Author : W. Peng,C. Shu
Publisher : Springer
Page : 242 pages
File Size : 52,9 Mb
Release : 2009-11-30
Category : Business & Economics
ISBN : 9780230245785

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Currency Internationalization: Global Experiences and Implications for the Renminbi by W. Peng,C. Shu Pdf

This is the first book to collect academic studies examining issues related to the potential internationalization of the Renminbi. It considers policy implications, documents the rising regional importance of the Renminbi and discusses key issues in the increasing use of the Renminbi in international trade and finance.

Author : Chang Shu,Dong He,Xiaoqiang Cheng
Publisher : Unknown
Page : 26 pages
File Size : 43,6 Mb
Release : 2014
Category : Electronic
ISBN : OCLC:891507540

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One Currency, Two Markets by Chang Shu,Dong He,Xiaoqiang Cheng Pdf

Author : Edwin L.-C. Lai
Publisher : Cambridge University Press
Page : 347 pages
File Size : 46,7 Mb
Release : 2021-07-08
Category : Business & Economics
ISBN : 9781108491686

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One Currency, Two Markets by Edwin L.-C. Lai Pdf

Economic analysis of the future of the international monetary system and the USD, and the rising importance of the RMB.

Author : Paola Subacchi
Publisher : Columbia University Press
Page : 252 pages
File Size : 44,9 Mb
Release : 2016-11-22
Category : Business & Economics
ISBN : 9780231543262

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The People’s Money by Paola Subacchi Pdf

Many of the world's major economies boast dominant international currencies. Not so for China. Its renminbi has lagged far behind the pound, the euro, and the dollar in global circulation—and for good reason. China has long privileged economic policies that have fueled development at the expense of the renminbi's growth, and it has become clear that the underpowered currency is threatening China's future. The nation's leaders now face the daunting task of strengthening the currency without losing control of the nation's economy or risking total collapse. How are they approaching this challenge? In The People's Money, Paola Subacchi introduces readers to China's monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in 1978. Subacchi revisits the policies that fostered the country's economic rise while at the same time purposefully creating a currency of little use beyond China's borders. She shows the key to understanding China's economic predicament lies in past and future strategies for the renminbi. The financial turbulence following the global crisis of 2008, coupled with China's ambitions as a global creditor and chief economic power, has forced the nation to reckon with the limited international circulation of the renminbi. Increasing the currency's reach will play a major role in securing China's future.

Author : Barry Eichengreen,Masahiro Kawai
Publisher : Brookings Institution Press
Page : 401 pages
File Size : 40,8 Mb
Release : 2015-02-11
Category : Political Science
ISBN : 9780815726128

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Renminbi Internationalization by Barry Eichengreen,Masahiro Kawai Pdf

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 : International Monetary Institute
Publisher : Routledge
Page : 264 pages
File Size : 45,8 Mb
Release : 2013-11-07
Category : Business & Economics
ISBN : 9781134644445

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The Internationlization of the Renminbi by International Monetary Institute Pdf

The recent financial crisis, rooted in the United States, has changed the world’s economic and financial structures. The Chinese government has made some arrangements in the post-crisis to ensure stable economic growth in volatile international economic environments and to protect its own interests from unfair international monetary treatments. The internationalization of Renminbi (RMB) is one of China's most important national strategies in the 21st century and is symbolic in the rise of China. This book aims to document the process and the development of the internationalization of Renminbi and to identify the challenges. The book introduces an index of internationalization of Renminbi. It also uses a comprehensive multi-variable index to determine the degree of internationalization of Renminbi. This book helps readers to understand the current status of the reformation on China’s currency system, the process of internationalization of the RMB and the current, intricate political and economic relations.

Author : Yuanzheng Cao
Publisher : Springer
Page : 213 pages
File Size : 41,7 Mb
Release : 2018-08-29
Category : Business & Economics
ISBN : 9789811308000

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Strategies for Internationalizing the Renminbi by Yuanzheng Cao Pdf

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 : Hyoung-kyu Chey
Publisher : Routledge
Page : 186 pages
File Size : 43,6 Mb
Release : 2021-11-10
Category : Business & Economics
ISBN : 9781000473438

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The International Political Economy of the Renminbi by Hyoung-kyu Chey Pdf

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 : Jane Golley,Ligang Song
Publisher : ANU E Press
Page : 362 pages
File Size : 48,5 Mb
Release : 2011-06-01
Category : Political Science
ISBN : 9781921862298

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Rising China by Jane Golley,Ligang Song Pdf

Where the last three decades of the 20th century witnessed a China rising on to the global economic stage, the first three decades of the 21st century are almost certain to bring with them the completion of that rise, not only in economic, but also political and geopolitical terms. China's integration into the global economy has brought one-fifth of the global population into the world trading system, which has increased global market potential and integration to an unprecedented level. The increased scale and depth of international specialisation propelled by an enlarged world market has offered new opportunities to boost world production, trade and consumption; with the potential for increasing the welfare of all the countries involved. However, China's integration into the global economy has forced a worldwide reallocation of economic activities. This has increased various kinds of friction in China's trading and political relations with others, as well as generating several globally significant externalities. Finding ways to accommodate China's rise in a way that ensures the future stability and prosperity of the world economy and polity is probably the most important task facing the world community in the first half of the 21st century. The book delves into these issues to reflect upon the wide range of opportunities and challenges that have emerged in the context of a rising China.