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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope
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To: RealMuLan who wrote (10883)2/10/2012 2:26:48 PM
From: RealMuLan  Read Replies (1) of 12464
 

The Renminbi’s Role in the Global Monetary System
China now has the world’s second largest economy and is a key driver of global growth. But of the six largest economies in the world, China’s renminbi is the only currency not used as a global reserve asset. Although it has recently taken steps to promote the renminbi’s international use, the Chinese government has still not been willing to open its economy to the free flow of capital nor allow a flexible exchange rate. Nevertheless, the sheer size of China’s economy and its rising shares of global output and trade foreshadow a rising role for the renminbi in international finance and trade. The deeper question, however, is whether the renminbi’s global stature will match that of the Chinese economy— and perhaps surpass the U.S. dollar.

brookings.edu

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brookings.edu
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