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Gaining CurrencyThe Rise of the Renminbi$
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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

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Rising Global Influence

Rising Global Influence

(p.213) Chapter 9. Rising Global Influence
Gaining Currency

Eswar S. Prasad

Oxford University Press

This chapter describes how China is wielding its economic power to increase its economic and geopolitical influence in Asia and other parts of the world. These initiatives are also tied in with the promotion of the RMB’s international role. China is trying to influence the rules of international governance through more effective wielding of its power in existing international institutions such as the IMF and the World Bank, and also by setting up its own institutions such as the AIIB. The Belt and Road Initiative is another example of how China is tying together its economic and geopolitical ambitions, and making progress on both in a concerted manner.

Keywords:   Trans Pacific Partnership (TPP), investments in and aid to Africa, Asian Infrastructure Development Bank (AIIB), New Development Bank (NDB), Contingent Reserve Arrangement (CRA), BRICS, Silk Road Fund, Belt and Road Initiative

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