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Regional settlement infrastructure and currency internationalization : the case of Asia and the renminbi

Rhee, Changyong; Sumulong, Lea - 2014

vulnerability. As demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China; Hong Kong …

Persistent link: https://www.econbiz.de/10010237745

Global implications of the renminbi's ascendance

Prasad, Eswar S. - 2014

This paper evaluates the prospects for the renminbi's role as an international currency and the implications for global … exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRC's rising … with other countries' central banks, the renminbi is also becoming more prominent in international finance. However, the …

Persistent link: https://www.econbiz.de/10010260034

The role of offshore financial centers in the process of renminbi internationalization

Cheung, Yin-Wong - 2014

currency, the renminbi. Historical experience suggests that an active offshore market is essential for a global currency …. Indeed, anecdotal evidence affirms the role of offshore markets in pushing the renminbi currency to the world. One should not … global use of the currency, the overseas acceptance of the renminbi is ultimately determined by both internal and external …

Persistent link: https://www.econbiz.de/10010337641

Paths to a reserve currency : internationalization of the renminbi and Its implications

Huang, Yiping; Wang, Daili; Fan, Gang - 2014

In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years …-track strategy: promotion of the use of the renminbi in the settlement of cross-border trade and investment, and liberalization of … renminbi in global reserves could reach 12%. However, if institutional and market variables are included, the predicted share …

Persistent link: https://www.econbiz.de/10010355692

The yuan's exchange rates and pass-through effects on the prices of Japanese and US imports

Xing, Yuqing - 2010

This paper estimated the pass-through effects of yuan’s exchange rates on prices of the US and Japanese imports from the People's Republic of China (PRC). Empirical results show that, a 1% nominal appreciation of the yuan would result in a 0.23% increase in prices of the US imports in the...

Persistent link: https://www.econbiz.de/10003983426

How would an appreciation of the yuan affect the People's Republic of China's surplus in processing trade?

Thorbecke, Willem - 2010

Enormous trade surpluses are problematic for the People's Republic of China (PRC) and the rest of the world. They primarily stem from processing trade. This paper investigates how exchange rate changes would affect the PRC's imports for processing and processed exports. The results indicate that...

Persistent link: https://www.econbiz.de/10003983431

Revisiting the internationalization of the yuan

Yu, Yong-ding - 2012

As the world's second largest economy, largest trading nation, and the largest foreign holder of United States (US) government bonds, the People's Republic of China (PRC) needs a currency with international status that can match its economic status in the global economy. However, sequencing is...

Persistent link: https://www.econbiz.de/10009557903

How the iphone widens the United States trade deficit with the People’s Republic of China

Xing, Yuqing; Detert, Neal - 2010

In this paper, we use the iPhone as a case to show that even high-tech products invented by United States (US) companies will not increase US exports, but on the contrary exacerbate the US trade deficit. The iPhone contributed US$1.9 billion to the US trade deficit with the People's Republic of...

Persistent link: https://www.econbiz.de/10008907305

Processing trade, exchange rates, and the People's Republic of China's bilateral trade balances

Xing, Yuqing - 2011

This paper analyzes the role of processing trade in the People's Republic of China (PRC)'s bilateral trade balances and the impact of the yuan's appreciation on processing trade. The analysis is based on panel data covering the PRC' 51 trading partners from 1993 - 2008. The empirical analysis...

Persistent link: https://www.econbiz.de/10008907784

The currency of the People's Republic of China and production fragmentation

Yamashita, Nobuaki - 2011

This paper examines how an appreciation of the currency of the People's Republic of China (PRC) - renminbi - affects …/93-2008/09. It constructs two exchange rates for renminbi: one is a bilateral real exchange rate and the other is a real effective … exchange rate against East Asian component suppliers. It is found that appreciation of the renminbi would somewhat offset a …

Persistent link: https://www.econbiz.de/10009381669