IDEAS home Printed from https://ideas.repec.org/a/sae/chnrpt/v52y2016i2p138-150.html
   My bibliography  Save this article

China’s Bilateral Currency Swap Agreements

Author

Listed:
  • Aravind Yelery

    (Associate Fellow Institute of Chinese Studies, Delhi (ICS), India aravind.yelery@gmail.com)

Abstract

China has recently demonstrated diverse ways to pursue its economic internationalisation. The trade mechanism has been re-modelled without a heavy tone on exports and China’s vulnerability to import–export risks has been steadily reduced. More than trade, the investments have been pursued to make Chinese economic expansion endure. Chinese also learned the trick of larger geo-economics by not waiting for crisis to occur and get caught in the global domino effect of slowdown, recession and other impulsive nature of markets. While, on one hand, China is trying to comply by international monetary and legal standards, making more space in a cluttered room for its economic ambitions, on the other, it is also adopting smarter ways to outperform the existing heavyweight economies’ dominance in the sphere of international monetary. An example of China’s sprint for maximising its legal and economic engagement and securing benefits by having bilateral currency swap agreements (BCS), exhibits how China has evolved over the last decade. A decade back, China was apprehensive about the BCS when it did not follow the Chiang Mai initiative. The current commentary attempts to analyse China’s BCS strategy and the possible impact.

Suggested Citation

  • Aravind Yelery, 2016. "China’s Bilateral Currency Swap Agreements," China Report, , vol. 52(2), pages 138-150, May.
    • Handle: RePEc:sae:chnrpt:v:52:y:2016:i:2:p:138-150
    DOI: 10.1177/0009445515627210
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0009445515627210
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0009445515627210?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ken Moak & Miles W. N. Lee, 2015. "China Moving Forward," Palgrave Macmillan Books, in: China’s Economic Rise and Its Global Impact, chapter 0, pages 151-167, Palgrave Macmillan.
    2. C. Randall Henning, 2002. "East Asian Financial Cooperation," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa68, April.
    3. Mr. Mohammed El Qorchi & Mr. Samuel Munzele Maimbo & Mr. John F. Wilson, 2003. "Informal Funds Transfer Systems: An Analysis of the Informal Hawala System," IMF Occasional Papers 2003/004, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Batten, Jonathan A. & Szilagyi, Peter G., 2016. "The internationalisation of the RMB: New starts, jumps and tipping points," Emerging Markets Review, Elsevier, vol. 28(C), pages 221-238.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael G. Plummer, 2012. "Regional Monitoring of Capital Flows and Coordination of Financial Regulation: Stakes and Options for Asia," Chapters, in: Masahiro Kawai & David G. Mayes & Peter Morgan (ed.), Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia, chapter 8, Edward Elgar Publishing.
    2. Dilip K. Das, 2008. "South Asia's Integration with the Rest of Asia: a survey," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 22(1), pages 25-40, May.
    3. C. Randall Henning, 2017. "Avoiding Fragmentation of Global Financial Governance," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 101-106, February.
    4. Julie McKay & Ulrich Volz & Regine Wölfinger, 2011. "Regional Financing Arrangements and the IMF," Chapters, in: Ulrich Volz (ed.), Regional Integration, Economic Development and Global Governance, chapter 10, Edward Elgar Publishing.
    5. Hamilton-Hart, Natasha, 2011. "Distribution, Domestic Politics and Monetary Cooperation in East Asia," ADBI Working Papers 332, Asian Development Bank Institute.
    6. Anupam Das & Murshed Chowdhury, 2011. "Remittances and GDP Dynamics in 11 Developing Countries: Evidence from Panel Cointegration and PMG Techniques," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 14(42), pages 3-23, December.
    7. Giuliano, Paola & Ruiz-Arranz, Marta, 2009. "Remittances, financial development, and growth," Journal of Development Economics, Elsevier, vol. 90(1), pages 144-152, September.
    8. Ramkishen Rajan & Reza Siregar & Graham Bird, 2003. "Examining the case for Reserve Pooling in East Asia: Empirical Analysis," Centre for International Economic Studies Working Papers 2003-23, University of Adelaide, Centre for International Economic Studies.
    9. Singh, Bhupal, 2006. "Cross-border workers’ remittances: Transmission channels and measurement issues in India," MPRA Paper 12145, University Library of Munich, Germany.
    10. Julie Gilson, 2012. "Regional leadership—Japanese style: Japan through the crisis," Asia Europe Journal, Springer, vol. 9(2), pages 211-223, March.
    11. Ulrich Volz, 2013. "Lessons of the European crisis for regional monetary and financial integration in East Asia," Asia Europe Journal, Springer, vol. 11(4), pages 355-376, December.
    12. Kazi Abdul, Mannan & Gin Kok, Wei, 2009. "How Do Migrants’ Choice of Remittance Channel? The Case of Bangladesh," MPRA Paper 104212, University Library of Munich, Germany, revised 2009.
    13. Peter B. Kenen & Ellen E. Meade, 2006. "Monetary integration in East Asia," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    14. Carlos Giraldo, 2018. "IMF–RFA collaboration: motives, state of play, and way forward A joint RFA staff proposal," Documentos de Discusión FLAR 19452, Fondo Latino Americano de Reservas - FLAR.
    15. Pomfret, Richard, 2005. "Sequencing trade and monetary integration: issues and application to Asia," Journal of Asian Economics, Elsevier, vol. 16(1), pages 105-124, February.
    16. Cheng, Gong & Lennkh, Rudolf Alvise, 2018. "RFAs' Financial Structures and Lending Capacities: a Statutory, Accounting and Credit Rating Perspective," MPRA Paper 95754, University Library of Munich, Germany.
    17. Dong Hyeon Jung, 2008. "Microfinance in India: SHG-Bank Linkage Program," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 11(2), pages 127-152, September.
    18. Gordon de Brouwer, 2004. "Institutions to Promote Financial Stability: Reflections on East Asia and an Asian Monetary Fund," Treasury Working Papers 2004-02, The Treasury, Australian Government, revised Sep 2004.
    19. Richard P C Brown & Fabrizio Carmignani & Ghada Fayad, 2011. "Migrants’ Remittances and Financial Development: Macro- and Micro-level Evidence of a Perverse Relationship," OxCarre Working Papers 059, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    20. Richard P. C. Brown & Fabrizio Carmignani & Ghada Fayad, 2013. "Migrants’ Remittances and Financial Development: Macro- and Micro-Level Evidence of a Perverse Relationship," The World Economy, Wiley Blackwell, vol. 36(5), pages 636-660, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:chnrpt:v:52:y:2016:i:2:p:138-150. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.