Preface -- A historical prologue -- Currency concepts -- Capital account opening -- The exchange rate regime -- The RMB goes global -- Reserve currency -- The mirage of safety -- Could China stumble? -- Rising global influence -- Conclusion

This book is for anyone who is interested in the economic analysis of the future of the international monetary system and the USD, and the rising importance of the RMB. It points out the unsustainability of the dollar standard in the long run, that China has unique incentives to internationalize...

The politics of reactive currency statecraft -- The rise of the "people's currency" -- The United Kingdom: a passionate advocate -- Japan: a diplomatic user of the renminbi -- South Korea: a late but active accommodator -- The United States: a confident hegemon.