Rmb Internationalization & Product Innovation

$39.95

SKU: 9781487811969
Author: Guangping, Zhang
Publication Date: 12/25/2023
Publisher: Royal Collins Publishing Company
Binding: Hardcover
Media: Book
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Description

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.