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prospects for the renminbi as a budding international currency. We show that interest rate differentials would be only one of … the factors shaping the renminbi's position, while other factors, including the correlation between foreign countries …' economic growth and their bilateral exchange rates against the renminbi, and the correlation between exchange rates of the …
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The globalisation of financial markets has attracted much academic and policymaking commentary in recent years, especially with the growing number of banking and financial crises and the current credit crisis that has threatened the stability of the global financial system. This major new...
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