Publication
Nov 2011
This paper explores the policy approaches which China could adopt to internationalize the renminbi (RMB) further. The author contends that this will require changes to Chinese financial and capital markets on both the domestic and international front. The author argues that despite the risks involved, liberalization is worth the effort. It is argued that China will succeed in achieving several criteria of currency internationalization, excepting the possibility of a financial crisis.
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English (PDF, 21 pages, 394 KB) |
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Author | Takatoshi Ito |
Series | CFR Working Papers |
Publisher | Council on Foreign Relations (CFR) |
Copyright | © 2011 Council on Foreign Relations (CFR) |