The sluggish internationalization of the renminbit

Adam Gwiazda ()
Additional contact information
Adam Gwiazda: Casimir the Great University in Bydgoszcz, Department of Political Theory

Bank i Kredyt, 2017, vol. 48, issue 5, 483-494

Abstract: During the last twenty years the Chinese yuan (officially known as renminbi – RMB) has travelled the road from unconvertible currency to international currency accepted in the world trade and finance. This was achieved both under the pressure from foreign trading partners as well as through adjusting China’s monetary policy to the changes in major currencies and international capital flows. As China’s economy is so heavily dependent on trade, particularly with its largest trading partners, the United States and the European Union, tensions with the US administration over the undervalued renminbi could be very costly for the Chinese economy and might involve the potential loss of its biggest export market. The dilemma between trade expansion and the renminbi exchange rate regime have not, so far, been resolved. China has to allow the market to play a more decisive role in exchange-rate formation and to further enhance the flexibility of the RMB exchange rate.

Keywords: yuan-renminbi (RMB); exchange rate; monetary policy (search for similar items in EconPapers)
JEL-codes: E51 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://bankikredyt.nbp.pl/content/2017/05/BIK_05_2017_03.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpbik:v:48:y:2017:i:5:p:483-494

Access Statistics for this article

More articles in Bank i Kredyt from Narodowy Bank Polski Contact information at EDIRC.
Bibliographic data for series maintained by Wojciech Burjanek ().