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Chinese Currency And The Global Economy The Rise Of The Renminbi
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Book Synopsis Chinese Currency and the Global Economy by : Chen Yulu
Download or read book Chinese Currency and the Global Economy written by Chen Yulu and published by McGraw Hill Professional. This book was released on 2014-05-26 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: From ancient “knife money” to the Renminbi—a fascinating history of Chinese currency Chinese Currency and the Global Economy is an all-encapsulating study of the Chinese monetary system from the historical perspective of global economy and finance. From economic infrastructure to the cultural system and from world events to the domestic scene, author Chen Yulu describes the metamorphosis of the Chinese currency and examines what is entailed in the globalization of Renminbi against the background of world economic multi-polarization. Chen Yulu is an Eisenhower senior visiting fellow and a Fulbright senior scholar. He serves concurrently as president of Renmin University of China, vice-chairman of the China International Finance Association, and deputy secretary general and executive director of the China Society for Finance and Banking.
Download or read book Gaining Currency written by Eswar Prasad and published by Oxford University Press. This book was released on 2017 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown.
Book Synopsis Chinese Currency and the Global Economy by : Yulu Chen
Download or read book Chinese Currency and the Global Economy written by Yulu Chen and published by . This book was released on 2014 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Offshore Renminbi by : Robert Minikin
Download or read book The Offshore Renminbi written by Robert Minikin and published by John Wiley & Sons. This book was released on 2012-10-26 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of the renminbi and what it means for forex markets Chinese authorities have ambitious plans to "internationalize" the renminbi, transforming it from a tightly controlled domestic legal tender into a global currency for international trade, held by both private and public sector asset managers. The Offshore Renminbi examines this impending currency revolution, outlining why the emergence of China as a major economic power will likely soon be matched by a transformation of the renminbi's role in the global financial system. It explains how new markets for "offshore" renminbi are developing outside mainland China since the country is not yet ready to fully open up its economy to international capital flows, and the regulations that govern them. The potential growth for the renminbi market is vast, thanks to China's role in the global trading community. The early stages of the internationalization effort were small-scale, but momentum has greatly increased over the past 18 months, making this book more relevant than ever. These developments offer new opportunities (and challenges) for corporate treasurers and investors, as China's profound economic success and growing prominence in global trade may transform offshore renminbi into a new global reserve currency and a legitimate competitor to the U.S. dollar. Explores how the "internationalization" of the renminbi is likely to yield a new global currency to rival the U.S. dollar Examines "offshore" renminbi and the host of new financial markets they have created, from a spot FX market to Dim Sum bonds in Hong Kong Covers broad themes of interest to general readers and policymakers, as well as more detailed issues of practical and direct importance to corporate treasurers and investors The Chinese government has ambitious plans to make the renminbi a global currency. The Offshore Renminbi explains the complexities of this strategy and the dramatic implications for the global FX markets.
Book Synopsis Is China's Currency Increasingly Important? by : Yinggang Zhou
Download or read book Is China's Currency Increasingly Important? written by Yinggang Zhou and published by Springer Nature. This book was released on with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Renminbi Rising by : William H. Overholt
Download or read book Renminbi Rising written by William H. Overholt and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Critical analysis of RMB internationalization and the coming global currency shift Renminbi Rising charts the emergence of China's internationalizing currency and provides an in-depth analysis of the global repercussions. Written by a team of renown economics researchers, this book describes the pressures that enabled the emergence of a new global monetary system and why China's Renminbi (RMB) became the default 'second in line' as the U.S. receded from leadership. Policy makers and regulators will appreciate the examination of the motivations behind those driving the shift, and financial professionals will find valuable guidance in the discussion surrounding business opportunities that the RMB brings to the table. Coverage includes the emergence of new Chinese-sponsored financial institutions, the scale of various RMB businesses and the coming transformation of the global financial system. Effective management of international monetary affairs has never been more fundamental to the global economic recovery. The rapid emergence of China's RMB is a transformative event of global significance, and this book provides the context you need to understand the depth and breadth of changes on the horizon. Understand why a new global monetary system is needed Consider the outcomes as China emerges and the U.S. recedes Learn the context and motivations behind principal players' strategies Discover the scale of opportunities presented by the rise of the RMB It is essential for finance professionals and economic policy makers to understand the drivers, progress and likely trajectory of the RMB internationalization and to fully grasp the implications for the global financial system, international business and supporting financial products and services. Renminbi Rising offers detailed analysis of the key opportunities and threats inherent in this major economic shift.
Book Synopsis The People’s Money by : Paola Subacchi
Download or read book The People’s Money written by Paola Subacchi and published by Columbia University Press. This book was released on 2016-11-22 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the world's major economies boast dominant international currencies. Not so for China. Its renminbi has lagged far behind the pound, the euro, and the dollar in global circulation—and for good reason. China has long privileged economic policies that have fueled development at the expense of the renminbi's growth, and it has become clear that the underpowered currency is threatening China's future. The nation's leaders now face the daunting task of strengthening the currency without losing control of the nation's economy or risking total collapse. How are they approaching this challenge? In The People's Money, Paola Subacchi introduces readers to China's monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in 1978. Subacchi revisits the policies that fostered the country's economic rise while at the same time purposefully creating a currency of little use beyond China's borders. She shows the key to understanding China's economic predicament lies in past and future strategies for the renminbi. The financial turbulence following the global crisis of 2008, coupled with China's ambitions as a global creditor and chief economic power, has forced the nation to reckon with the limited international circulation of the renminbi. Increasing the currency's reach will play a major role in securing China's future.
Book Synopsis The International Political Economy of the Renminbi by : Hyoung-kyu Chey
Download or read book The International Political Economy of the Renminbi written by Hyoung-kyu Chey and published by Routledge. This book was released on 2021-11-10 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this book addresses the question of how foreign states have responded to the renminbi’s internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring the international politics of currency internationalization. It builds a theoretical framework for analyzing a state’s policy toward renminbi internationalization, developing the key concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States. This book reveals that all four of these countries have deliberately utilized their policies related to renminbi internationalization as means of achieving their own foreign policy goals associated with China, goals that have been principally economic in some cases but political in others. Remarkably, the predominant mode of response to the renminbi’s internationalization has been accommodative. Even the United States and Japan—China’s chief geopolitical and also international currency rivals—have never attempted to actively suppress it. This study provides new insights to anyone concerned with the transformation of the world monetary order, while also contributing a valuable analysis of the international politics surrounding the rise of China.
Book Synopsis The Evolving Role of China in the Global Economy by : Yin-Wong Cheung
Download or read book The Evolving Role of China in the Global Economy written by Yin-Wong Cheung and published by MIT Press. This book was released on 2013 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: China is now the world's second largest economy and may soon overtake the United States as the world's largest. This book offers a systematic analysis of four factors in China's rapid economic growth: exchange rate policy, savings and investment, monetary policy and capital controls, and foreign direct investment.
Book Synopsis China’s Currency: An Analysis of the Economic Issues by :
Download or read book China’s Currency: An Analysis of the Economic Issues written by and published by DIANE Publishing. This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many Members of Congress charge that China's policy of accumulating foreign reserves (especially U.S. dollars) to influence the value of its currency constitutes a form of currency manipulation intended to make its exports cheaper and imports into China more expensive than they would be under free market conditions. They further contend that this policy has caused a surge in the U.S. trade deficit with China and has been a major factor in the loss of U.S. manufacturing jobs. Although China made modest reforms to its currency policy in 2005, resulting in a modest appreciation of its currency, many Members contend the reforms have not gone far enough and have warned of potential legislative action. This report summarizes the main findings in CRS Report RL32165, China's Currency: Economic Issues and Options for U.S. Trade Policy, by Wayne M. Morrison and Marc Labonte, and will be updated as events warrant.
Book Synopsis Rmb Exchange Rate, The: Past, Current, And Future by : Yin-wong Cheung
Download or read book Rmb Exchange Rate, The: Past, Current, And Future written by Yin-wong Cheung and published by World Scientific. This book was released on 2016-11-22 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, China's robust economic performance has propelled it to the world stage. At the same time, the world has increasingly scrutinized China's economic policies and activities. One of the hotly contested issues is China's foreign exchange rate policy. China's current reform and modernization policies to convert its centrally planned economy towards a market-driven one could hardly draw on experiences of other countries.This book provides a succinct and up-to-date account of China's exchange rate policy including the currency undervaluation debate and the internationalization of its currency. It begins with a brief history of the modern China's foreign exchange rate policy. In particular, it highlights the three Chinese policy characteristics; namely, independence, controllability and practicability, and graduality. This prologue helps to interpret China's policy on its currency, the renminbi (RMB); including its recent initiatives to promote the international use of its currency.The book covers the basic theoretical and empirical issues that are relevant for determining the equilibrium value of the RMB exchange rate and, hence, its degree of misalignment. Then it evaluates the controversy surrounding the RMB valuation debate, and highlights the sensitivity of empirical estimates of the degree of misalignment to alternative presumptions.The book also examines the timely issues related to China's recent efforts in promoting the use of its currency in the global financial market. After describing the background of China's recent efforts to internationalize the RMB, the book a) discusses the main promotional policies, including the recent Qianhai project and Shanghai Free Trade Zone initiative, b) evaluates the current status of the offshore RMB market, the level of international use of the RMB and the admission to the SDR basket, and c) assesses the future prospects of the RMB to be a global currency.
Book Synopsis Renminbi Internationalization by : Barry Eichengreen
Download or read book Renminbi Internationalization written by Barry Eichengreen and published by Brookings Institution Press. This book was released on 2015-02-11 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Dual-Center Global Financial System by : Tao YUAN
Download or read book The Dual-Center Global Financial System written by Tao YUAN and published by Springer. This book was released on 2018-01-29 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the systematic change in the global economy accompanying the rise of China. Once China has the same huge and advanced economy as the U.S., the global economy’s current one-center system will have a chance to change: China will represent an alternative center. If it can satisfy essential criteria for the global economy such as a stable foreign exchange system, healthy international trade environment and strong support for economic development etc., China will be able to offer a viable alternative. In this constellation the two centers of the global economy and financial system, the U.S. and China, would ideally cooperate, and the global economy could benefit from having two economic and financial centers.
Book Synopsis China and the World by : SHAO Binhong
Download or read book China and the World written by SHAO Binhong and published by BRILL. This book was released on 2013-06-20 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is China's rightful place on the world stage? Will the world remain unipolar as signs of American decline appear to be mounting? How can China maintain a harmonious relationship with its neighbors? What does China intend to do with the new power and influence that appears to be at its disposal? In light of emergent post-2008 economic realities, how should China adjust its foreign economic relations? This volume, the first of its kind, gathers a collection of translations of influential essays, talks, and papers on Chinese foreign policy, national security, and foreign economic relations written by Chinese elites. Many papers have also served as propositions for policy prescriptions to China's leaders, the vast majority of which have to date only been available in Chinese.
Book Synopsis Reform Of The International Monetary System And Internationalization Of The Renminbi by : Ruogu Li
Download or read book Reform Of The International Monetary System And Internationalization Of The Renminbi written by Ruogu Li and published by World Scientific. This book was released on 2015-11-09 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book argues that only by reforming the international monetary system can we prevent financial crises in the future and the internationalization of the Renminbi, China's national currency, will be an important step in the process.Just as the old saying goes, 'An old building needs to be demolished before a new one can be erected in its place,' there will be no construction without destruction. The commencement of the dismantling of the old monetary system is also the beginning of the construction of the new one. Contrary to Western rhetoric, which portrays China as part of the cause of the recent financial crisis, the author contends that China is actually a victim of the current unjust international economic and monetary system. To address the imbalance and break the dollar-dominated international monetary system, the author calls for the internationalization of the Renminbi and diversification of the international monetary system.Written by one of the foremost financial practitioners in China, this book is thought-provoking and provides a unique Chinese perspective on how the international monetary system should be reformed, what the future system should look like and the role China should play in the process. It is a required reading for anyone interested in understanding China's own vision in its rise in the global political, economic and financial systems.
Book Synopsis The RMB in the Global Economy by : Yin-Wong Cheung
Download or read book The RMB in the Global Economy written by Yin-Wong Cheung and published by Cambridge University Press. This book was released on 2022-12-08 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Element discusses the global role of the RMB. After recapitulating its economic and trade growth experiences, we recount China's evolving exchange rate policy in the post-reform era, review the debate over whether the RMB is overvalued or undervalued, present China's policies to globalize the RMB, describe offshore RMB trading, assess the current global status of the RMB, and discuss geopolitical tensions in the last few years. Since 2009, the process of globalizing RMB has not been smooth sailing and progressed quite unevenly over time. Despite the strong performance in the early 2010s, the RMB is under-represented in the global market and its global role does not match China's economic might. The path of RMB internationalization is affected by both China's economic performance and geopolitical factors.
Book Synopsis Enter the Dragon by : Domenico Lombardi
Download or read book Enter the Dragon written by Domenico Lombardi and published by McGill-Queen's Press - MQUP. This book was released on 2016-10-17 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has experienced a remarkable transformation since the 1990s. It now boasts the second-largest — some would argue the largest — economy in the world, having evolved from a closed economy into the leading goods-trading nation. China’s economic rise has given it increasing prominence in international monetary and financial governance, but it also exposes China to new risks associated with its integration into the global financial system. Drawing insights from economics and political science, Enter the Dragon: China in the International Financial System takes a broad conceptual approach and tackles the questions that accompany China’s ascendance in international finance: What are the motivations and consequences of China’s effort to internationalize the renminbi? What is the political logic underlying China’s foreign financial policy? What forces have shaped China’s preferences and capacities in global financial governance? Enter the Dragon contributes to the ongoing debate over China’s political interests, its agenda for economic and financial cooperation, and the domestic and international implications of its economic rise. Bringing together experts from both inside and outside of China, this volume argues that China’s rise in the international financial system is a highly complex and political process, and can only be understood by incorporating analysis of domestic and international political economy.
