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 …

goes global -- Reserve currency -- The mirage of safety -- Could China stumble? -- Rising global influence -- Conclusion …

This paper reviews the steps that China has taken towards financial reform with a particular focus on capital account … liberalisation and internationalisation of the use of the renminbi. After a slowdown in reform momentum during the global financial …, China's debt has doubled, reaching levels that are clearly above those of most emerging markets. This increases the risks …