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Gaining Currency
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Gaining Currency: The Rise of the Renminbi

Eswar S. Prasad

Abstract

China’s currency, the renminbi (RMB), has taken the world by storm. The RMB is well on its way to becoming a significant international currency, one that is used widely in international trade and finance. This book documents the RMB’s impressive rise, with China successfully adopting a unique playbook for promoting its currency. China’s growing economic might, expanding international influence, and the rise of its currency are all intricately connected. The book documents how China’s government has tied these goals together, enabling faster progress toward each of them. But there are many pitf ... More

Keywords: renminbi, RMB, internationalization, international currency, reserve currency, safe haven, safe asset, U.S. dollar’s dominance

Bibliographic Information

Print publication date: 2016 Print ISBN-13: 9780190631055
Published to Oxford Scholarship Online: October 2016 DOI:10.1093/acprof:oso/9780190631055.001.0001

Authors

Affiliations are at time of print publication.

Eswar S. Prasad, author
Tolani Senior Professor of Trade Policy, Cornell University, and New Century Chair in International Economics and Senior Fellow, Brookings Institution