An internationalised Renminbi will help stabilise global finances
By Woo Wing Thye
January 2014 UTTER ECONOMICS
China’s booming economy and emergence as a world power raise the question of whether or not the Renminbi should be internationalized.China is increasingly debating whether or not the Renminbi should be internationalised, possibly joining the US Dollar and the Euro as an international vehicle currency (IVC) – that is, a currency that other countries use to denominate the prices of their traded goods and international loans. Related to this is a debate about whether Shanghai can become a first-tier international...
Woo Wing Thye
is the executive director of Penang Institute and Professor of Economics at UC Davis.
