Will the renminbi become a world currency?

Wendy Dobson () and Paul Masson

China Economic Review, 2009, vol. 20, issue 1, 124-135

Abstract: China has emerged as a major power in the world economy, so it seems natural to consider whether its currency will also have a major role. At present the renminbi is not used internationally. We look at the factors that contribute to the international use of currencies, and focus on the aspects of China's financial system that would have to change before the renminbi emerged as an important regional or world currency. Even with significant reforms, two questions would remain: whether the authorities would want to encourage its international use, and whether an economy with substantial party control could gain international acceptance for its currency.

Keywords: China; Renminbi; Reserve; currency (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (51)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:chieco:v:20:y:2009:i:1:p:124-135

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China Economic Review is currently edited by B.M. Fleisher, K. X. D. Huang, M.E. Lovely, Y. Wen, X. Zhang and X. Zhu

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