Between Globalization and Internal Stability, the Resistible Internationalization of the Renminbi

Xavier Richet

Scientific Annals of Economics and Business (continues Analele Stiintifice), 2019, vol. 66, issue si, 203 - 213

Abstract: China's RMB is becoming a major international currency. It has joined major international currencies and intends to continue its growth although it has not yet become a fully convertible currency. Its share in world trade, reserves remains limited. On the one hand, the increase in its international use is increasing, on the other hand the decline in trade, the accumulation of internal problems - decline in GDP growth, growing domestic debt - are leading the Chinese authorities to push back the opening of the capital account, to control interest rates. Social stability has become a priority. JEL Codes - E; F; G

Keywords: RMB; China; convertibility; capital account (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aic:saebjn:v:66:y:2019:i:si:p:203-213:n:173

DOI: 10.47743/saeb-2019-0036

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