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Frequently noted inadequately explored connections between currency internationalization and expected change in the polarity of the international monetary system in the international relations literature are commanding the renewed attention and vigorous debate for more international monetary...
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to purchase and sell financial assets. Our model contributes to the debate on the internationalization of the renminbi …, supporting the view that deep financial reforms should precede capital account liberalization to sustain the renminbi …
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international currency. If the renminbi were to become a dominant international currency, it would require China to attain a much … dynamic path and lead to an earlier critical transition. We then discuss the implications for the renminbi, a budding …
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and banks to use the renminbi as an alternative to the dollar. In addition to contributing to a broader understanding of …
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