Internationalization of the Renminbi

With the continuous rise in the status and importance of China in regional and global economies, the influence of the Renminbi grows proportionately. Currency Reform has become a crucial and inevitable policy choice for China. Based on recent theoretical frameworks and quantitative analyses, this book explores the necessity, feasibility and specific pathway and measures of the transformation of the currency system, as well as the influences of the Banking System and the expansion of trade versus the appreciation of the Renminbi. This book investigates whether the reform of China's banking system is compatible with the reform of currency system. It argues that the former has a direct impact on whether the internationalization of the Renminbi can succeed. The book also identifies the relationship between two systems and helps formulate the appropriate reform policies.