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S10/0320 --- Renminbi --- Foreign exchange rates --- Currency question --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- Money --- China: Economics, industry and commerce--Money and banking: since 1949 --- China --- Economic policy --- Economic policy and planning (general)

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This Element discusses the global role of the RMB. After recapitulating its economic and trade growth experiences, we recount China's evolving exchange rate policy in the post-reform era, review the debate over whether the RMB is overvalued or undervalued, present China's policies to globalize the RMB, describe offshore RMB trading, assess the current global status of the RMB, and discuss geopolitical tensions in the last few years. Since 2009, the process of globalizing RMB has not been smooth sailing and progressed quite unevenly over time. Despite the strong performance in the early 2010s, the RMB is under-represented in the global market and its global role does not match China's economic might. The path of RMB internationalization is affected by both China's economic performance and geopolitical factors.

Renminbi. --- Foreign exchange --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- International finance --- Currency crises --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- Money

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Monetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopolitical standing of the United States, Europe, and China? Popular opinion holds that the days of the dollar, long the world's dominant currency, are numbered. By contrast, Currency Power argues that the current monetary rivalry still greatly favors America's greenback. Benjamin Cohen shows why neither the euro nor the yuan will supplant the dollar at the top of the global currency hierarchy.Cohen presents an innovative analysis of currency power and emphasizes the importance of separating out the various roles that international money might have. After systematically exploring the links between currency internationalization and state power, Cohen turns to the state of play among today's top currencies. The greenback, he contends, is the "indispensable currency"-the one that the world can't do without. Only the dollar is backed by all the economic and political resources that make a currency powerful. Meanwhile, the euro is severely handicapped by structural defects in the design of its governance mechanisms, and the yuan suffers from various practical limitations in both finance and politics.Contrary to today's growing opinion, Currency Power demonstrates that the dollar will continue to be the leading global currency for some time to come.

Money --- Dollar, American. --- Euro. --- Renminbi. --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- American dollar --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Political aspects. --- International finance --- Dollar, American --- Euro --- Renminbi --- Political aspects --- E-books --- International finance. --- Monetary policy. --- Yen, Japanese. --- Japanese yen --- Monetary management --- Economic policy --- Currency boards --- Money supply --- International monetary system --- International money --- International economic relations

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This book presents the theoretical framework for the evolution of the international monetary system and the internationalization of the RMB. Combining theoretical research and empirical study, it then provides an in-depth analysis of the relevant issues from multiple perspectives based on this framework. Written by former chief economist at the Bank of China, this book explains the “two-step strategy” from the capital account opening to the full convertibility of the RMB, it also analyzes the status and functions of the HK offshore financial market in internationalizing the RMB.

Monetary policy --- Renminbi. --- International finance. --- International monetary system --- International money --- Finance --- International economic relations --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- Money --- Macroeconomics. --- International economics. --- Banks and banking. --- Macroeconomics/Monetary Economics//Financial Economics. --- International Economics. --- Banking. --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Financial institutions --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions --- Economics

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Few topics have attracted as much attention worldwide in recent years as the RMB. These debates have gained added urgency in light of the financial crisis and the topic of RMB revaluation is now being actively debated in countries all over the world from Tunisia to the United States. This book explores the ever-changing role of the RMB and the related derivative products. However, it does so from a view that is heavily influenced by the fallout from the financial crisis as well as the in the context of the increasing maturity of the Chinese capital markets. The author has drawn on his experience

Derivative securities --- Renminbi. --- S10/0320 --- China: Economics, industry and commerce--Money and banking: since 1949 --- China - Foreign economic relations. --- Derivative securities - China. --- Derivative securities -- China. --- Foreign exchange - China. --- Foreign exchange --- Renminbi --- Finance --- Business & Economics --- Investment & Speculation --- CNY (Money) --- Ren min bi --- RMB (Money) --- Yuan (Money) --- Derivative financial instruments --- Derivative financial products --- Derivative instruments --- Derivatives (Finance) --- Financial derivatives --- Money --- Securities --- Structured notes (Securities) --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- International finance --- Currency crises --- China --- Foreign economic relations. --- E-books --- Marché financier --- Chine