Trade and Globalisation

Two-Pager: Internationalization of the RMB - Status, Options and Risks

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Disclaimer: This two-pager has been prepared by the CKN Secretariat and should not be considered the work of the individuals listed as authors of the report.

 

Key Takeaways

  • The internationalization of the Renminbi (RMB) is a long-term project that has evolved gradually through a series of policy initiatives, infrastructure developments and external shocks over the past few decades.
  • The international use of the RMB has seen only modest progress in the past 15 years, but China has substantially expanded the institutional infrastructure that underpins this internationalization.
  • Internationalization could be accelerated through (i) policy changes making the RMB a more attractive currency and by (ii) increasing the international demand for the RMB as an alternative to the USD and (iii) as a means to provide a safety net for international transactions.
  • China’s authorities are at a crossroad with the internationalization of the RMB.

China Knowledge Network

The Dutch China Knowledge Network (CKN) is a network established to involve China experts and disseminate knowledge within the government of the Netherlands and beyond.Our key task is to connect various angles of research and events to better understand China’s motives, policies and vision to develop more effective policies and better advise social partners. The secretariat of the knowledge network has been assigned to think tank Clingendael together with LeidenAsiaCentre. They will function primarily as ‘knowledge brokers’, matching the supply and demand of knowledge.

 

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