Jump to ContentJump to Main Navigation
Gaining CurrencyThe Rise of the Renminbi$
Users without a subscription are not able to see the full content.

Eswar S. Prasad

Print publication date: 2016

Print ISBN-13: 9780190631055

Published to Oxford Scholarship Online: October 2016

DOI: 10.1093/acprof:oso/9780190631055.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 10 December 2018

House of Cards?

House of Cards?

Chapter:
(p.173) Chapter 8. House of Cards?
Source:
Gaining Currency
Author(s):

Eswar S. Prasad

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780190631055.003.0008

This chapter evaluates the risks that China’s economy faces, any of which could derail the RMB’s rise in international finance. The risks include a balance of payments or currency crisis precipitated by capital flight; financial market meltdown, either because of nonperforming loans in the banking system or problems in the shadow banking sector; a sharp slowdown in growth; and political and social instability. The chapter reviews each of these risks and concludes that, while none of them can be dismissed, the prospects of an economic, financial, or political meltdown should not be overstated.

Keywords:   capital outflows, capital flight, nonperforming loans, financial crisis, stock market meltdown, shadow banking, growth prospects, anti-corruption drive, policy instability, currency speculation

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .