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Renminbi Going Global

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  • Cheung, Yin-Wong

Abstract

The paper assesses the international status of the Chinese currency renminbi(RMB) by recounting and reviewing the recent polices China instituted topromote the use of the RMB in the global market. The evidence suggests that theRMB is gaining acceptance overseas. However, compared with the size of theChinese economy, the current scale of the use of the RMB is quite small. The pathto a fully fledged international RMB will be a distant goal.

Suggested Citation

  • Cheung, Yin-Wong, 2011. "Renminbi Going Global," Santa Cruz Department of Economics, Working Paper Series qt2qn810hg, Department of Economics, UC Santa Cruz.
    • Handle: RePEc:cdl:ucscec:qt2qn810hg
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Social and Behavioral Sciences; RMB Internationalization; Off-Shore RMB Market; Cross-Border Trade Settlement; Panda Bonds;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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