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Internationalising the currency while leveraging massively- the case of China


  • Alicia García-Herrero


After a slowdown in reform momentum during the global financial crisis, there is a clear push towards reform, especially in terms of RMB internationalisation. During the same period, though, China’s debt has doubled, reaching levels that are clearly above those of most emerging markets. This increases the risks embedded in financial reform and, in particular, capital account liberalisation. At this juncture, however, China has no option but to press for...

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  • Alicia García-Herrero, 2015. "Internationalising the currency while leveraging massively- the case of China," Working Papers 10633, Bruegel.
  • Handle: RePEc:bre:wpaper:10633

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    Cited by:

    1. Rod Tyers & Yixiao Zhou, 2019. "Financial Integration and the Global Effects of China's Growth Surge," Economics Discussion / Working Papers 19-01, The University of Western Australia, Department of Economics.
    2. Lucía Cuadro-Sáez & Sonsoles Gallego, 2016. "Financial liberalisation in China: economic policy outlook and global implications," Economic Bulletin, Banco de España;Economic Bulletin Homepage, issue MAY, pages 1-14, May.

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