The Rise of the Renminbi in Asia: Cost-Benefit Analysis and Road Map
With the rise of China following its enhanced economic and trade relationship with the Asian economies and China's increasing importance in the world economy, the Chinese renminbi is becoming accepted in Asia and maybe by the whole world as a global currency. The rise of the renminbi is a double-edged sword: in order to eliminate the financial risks brought about by this process and maximize benefits, it is necessary for China to trade off between its costs and benefits. Internationalization of the renminbi requires a dynamic approach, involving a phased strategy for implementation, as well as corresponding policies.
Volume (Year): 40 (2007)
Issue (Month): 4 (July)
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