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The status of the renminbi (RMB), China's currency, is not commensurate with the country's global economic prowess as …'s Republic of China initiated efforts to promote the international use of the RMB. This paper reviews the historical experience …, given the increasing volume of trade with China …
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China and the international monetary system need each other. The international monetary system is strained, with crisis … just around the corner, yet reform is not on anyone's agenda. Meanwhile China, deeply invested in the current system, faces … international monetary system and China-IMF-style Special Drawing Rights (SDRs). If in a unilateral initiative China were to make …
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