بین‌المللی‌سازی یوان: دستاوردها، چشم‌اندازها و چالش‌ها

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.

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.

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.-- Provided by Publisher Front Cover -- Title Page -- Copyright Information -- Table of Contents -- Foreword -- Preface -- Introduction and Overview -- Part I: The Context -- Will History Repeat Itself? Lessons for the Yuan -- How Far Can Renminbi Internationalization Go? -- Part II: The Implications -- Global Ramifications of the Renminbi's Ascendance -- The Rise of the Redback: Evaluating the Prospects for Renminbi Use in Invoicing -- The Renminbi and Exchange Rate Regimes in East Asia -- Part III: The Process -- The Role of Offshore Financial Centers in the Process of Renminbi Internationalization -- Regional Settlement Infrastructure and Currency Internationalization: The Case of Asia and the Renminbi -- Are the People's Republic of China Financial Markets Deep and Liquid Enough for Renminbi Internationalization? -- Part IV: The View from the People's Republic of China -- Paths to a Reserve Currency: Renminbi Internationalization and Its Implications -- The Benefits and Costs of Renminbi Internationalization -- Contributors -- Index -- Back Cover Following The Global Financial Crisis Of 2008, China's Major Monetary Policy Objective Is The Internationalization Of The Renminbi, That Is, To Create An International Role For Its Currency Akin To The International Role Currently Played By The Us Dollar. This Book Deals With This Topic.