Currency Internationalization: Global Experiences and Implications for the Renminbi

WENSHENG PENG is Head of China Research in Barclays Capital, responsible for macroeconomic and financial market research on China. CHANG SHU leads a team monitoring and researching into macroeconomic, monetary and financial issues on Mainland China for the Hong Kong Monetary Authority.

List of Figures List of Tables Notes on Contributors Foreword PART I: INTERNATIONAL EXPERIENCES Global Roles of Currencies External Use of the African Rand Internationalizing a Currency: The Case of the Australian Dollar Foreign Exchange Liberalization and its Implications: The Case of the Korean Won PART II: ISSUES ON INTERNATIONAL USE OF RENMINBI The Potential of the Renminbi as an International Currency Pros and Cons of International Use of the RMB for China Renminbi Internationalization: Empirical and Policy Analysis The Effects of the Internationalization of Renminbi on the Finance Industry of China Internationalization of the Renminbi and its Implications for Monetary Policy Impact of the Renminbi Exchange Rate on Asian Currencies Notes Bibliography Index