Gaining Currency - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Gaining Currency write by Eswar Prasad. This book was released on 2017. Gaining Currency available in PDF, EPUB and Kindle. 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.
Renminbi Internationalization
Renminbi Internationalization - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Renminbi Internationalization write by Barry Eichengreen. This book was released on 2015-02-11. Renminbi Internationalization available in PDF, EPUB and Kindle. 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.
The International Political Economy of the Renminbi
The International Political Economy of the Renminbi - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The International Political Economy of the Renminbi write by Hyoung-kyu Chey. This book was released on 2021-11-10. The International Political Economy of the Renminbi available in PDF, EPUB and Kindle. 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.
The People’s Money
The People’s Money - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The People’s Money write by Paola Subacchi. This book was released on 2016-11-22. The People’s Money available in PDF, EPUB and Kindle. 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.
Chinese Yuan Renminbi Derivative Products
Chinese Yuan Renminbi Derivative Products - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Chinese Yuan Renminbi Derivative Products write by Peter G. Zhang. This book was released on 2004. Chinese Yuan Renminbi Derivative Products available in PDF, EPUB and Kindle. Since late 2002 there have been many disputes and discussions around the world on whether or not the Chinese yuan (CNY), or renminbi (RMB), should be revalued. Based on various arguments and discussions, the CNY has been expected to be revalued worldwide, as evidenced by the significant premiums for the CNY non-deliverable forwards in the offshore marketplace. With the CNY revaluation perspectives, hundreds of billions of US dollars have been invested in various types of CNY-related derivatives products. The purpose of this book is not to tell the reader whether the RMB should be revalued, or by how much it should be revalued, as these questions are the work of economists. Instead, as a derivatives specialist with more than te years' experience in the international financial market and with working experience in China in the past few years, the author presents trading of CNY-related derivatives products in the offshore marketplace. The book is organized into five parts. The first part familiarizes readers with the Chinese economy in transition and the Chinese financial market, so that they can make their own judgment as to whether or not the CNY should be revalued. Part II presents major foreign exchange derivatives trading in organized exchanges and the over-the-counter marketplace around the world. Part III reviews what foreign exchange products were involved both before and during the Asian financial crisis, because many of them were used to speculate or hedge against devaluations of the Asian currencies. Part IV studies various CNY-related derivatives products and embedded derivatives products. Finally, Part V examines the possible impacts of these derivatives products on the CNYexchange rate, based on the experiences of other currencies such as the Korean won and the New Taiwan dollar.
