inherent in the current global financial system. Asia was adversely affected by the crisis not only because of its dependence … on trade, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia … vulnerability. As demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China; Hong Kong …

the current global financial system. Asia was adversely affected by the crisis not only because of its dependence on trade …, but also because of its heavy reliance on the US dollar for regional and international transactions. As Asia's role in the … demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China and Hong Kong, China, the …

euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi … is already the dominant currency in Asia, exerting a large influence on exchange rate and monetary policies in the region … the RMB has become a key driver of currency movements in emerging Asia since the mid-2000s, and even more so since the …

internationalization is examined. The growth of renminbi-based trade and settlements has made it Asia's new reference currency, surpassing … measures taken by China to internationalize its renminbi, including several bilateral swap agreements signed with other central … banks, have reinforced other eastward trends in the world economy. In this paper, China's acceleration of renminbi …

We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i … account but with significant administrative and other soft controls. The renminbi will play an increasingly important role in …

currencies seem to matter for exchange rate determination in Asia beyond the very short term. To this end, we employ country …

instead on the potential role of the Chinese renminbi. It becomes increasingly clear that China will assume the role of the … Asian currencies. It is rather unlikely that the renminbi will assume a dominant role immediately but by drawing comparisons …

Though the renminbi is not yet convertible, the international monetary regime has already started to move towards a …