The Renminbi - Risks and Opportunities Ahead
By Herbert Poenisch
July 2012 UTTER ECONOMICS
Since China’s economic ascendancy does not seem to have a ceiling, Penang Monthly takes a look at how far the Chinese Renminbi (RMB) has challenged the US dollar (US$) as a world currency.There are basically three types of interested parties who need to make payment arrangements in Renminbi (RMB) — an exporter to China, an importer of Chinese goods and the intermediary bank which needs to clear the payments and which might end up with an RMB balance to trade...
Herbert Poenisch
is a retired senior economist at the Bank for International Settlements.
