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RENMINBISING CHINA'S FOREIGN ASSETS
Author(s) -
Cheung YinWong,
Ma Guonan,
McCauley Robert N.
Publication year - 2011
Publication title -
pacific economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.34
H-Index - 33
eISSN - 1468-0106
pISSN - 1361-374X
DOI - 10.1111/j.1468-0106.2010.00531.x
Subject(s) - renminbi , china , currency , liberian dollar , us dollar , valuation (finance) , economics , valuation effects , international economics , financial crisis , business , international trade , monetary economics , finance , exchange rate , macroeconomics , political science , law
Since the 2008 global financial crisis, China has rolled out a number of initiatives to actively promote the international role of the renminbi and to denominate more of its international claims away from the US dollar and into the renminbi. The present paper discusses the factors shaping the prospects of internationalising the renminbi from the perspective of the currency composition of China's international assets and liabilities. These factors include, among others, underlying valuation and management of the renminbi.