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

"Until recently the world has been relying on the US dollar and the Euro to lubricate the flow of global trade and finance. A newcomer, the Renminbi (RMB) or Chinese Yuan, joined the global monetary system in 2000. The rise of the RMB is both an indicator and a result of the evolution in the...

Sieren ist einem breiten, an Asien interessierten Publikum durch mehrere China-Bücher bekannt. Hier beschäftigt er sich mit dem Aufstieg der Volksrepublik zur Weltmacht und der Rolle der einheimischen Währung in diesem Prozess. Für Sieren ist klar, dass der Yuan die globale Leitwährung...

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.

"The Chinese government is trying to internationalize the RMB. But what are the real reasons for doing it? Will it succeed? What are the factors working in its favor? What are the impediments? What are the implications for the rest of the world? In this book, I explain how the problem with the...