Overview

Will China's renminbi soon replace the US dollar as the global currency? RMB Internationalization and Product Innovation takes an in-depth look at the rise in the internationalization of China's currency - the renminbi (RMB). Arriving from the point of global obscurity, up until recently, the RMB was relatively unused outside of China. However, with the rapid growth and rise of China's economy, the RMB has finally gained a greater degree of internationalization, as underlined by its inclusion in the IMF's basket of SDR currencies in 2016. This book provides a detailed account of the RMB's current internationalization level compared to other major global currencies, including the US dollar and euro. It also explores the reasons behind this and forecasts what may happen to RMB internationalization in the future. Despite its recent rise, some still believe that RMB internationalization should be greater, considering the vast size and impact of China's economy on the globe. For those interested in the global economy and currencies, this can provide an insightful book on how the RMB compares to other currencies, underlining its similarities and differences.

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9781487811969

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Dr. Guangping Zhang is an experienced financial expert with a background in computer science. He has held various positions in financial institutions, including Vice-President at Chase Manhattan Bank, and has published numerous books and articles in both English and Chinese. He is currently conducting research on the impacts of science and technology on international trade and currency internationalization.

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