financially than the Chinese economy, but China seems to be catching up with India in the wake of the global financial crisis … Chinese money markets, in contrast to the consensus projection that China is likely to experience net private capital outflows …

The rise of the renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China … given China's increasing weight in the world economy, this paper will argue that such an event is not likely to take place …