The Potential of the Renminbi as an International Currency

Hongyi Chen and Wensheng Peng

Chapter 5 in Currency Internationalization: Global Experiences and Implications for the Renminbi, 2010, pp 115-138 from Palgrave Macmillan

Abstract: Abstract China is now the fourth largest economy in the world and the third largest trading partner. In particular, China is the largest trading partner of many Asian economies, and has become an increasingly important source of investment in the region. As the rapid economic growth continues and the restrictions on international financial transactions are gradually liberalized, China’s importance in the global economy and financial system will increase further. This begs the question of what role the Chinese currency, the renminbi, will play in international trade and finance, particularly in the Asian region.

Keywords: Gross Domestic Product; Euro Area; Exchange Rate Volatility; Reserve Currency; International Currency (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24578-5_5

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DOI: 10.1057/9780230245785_5

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