In the long run, there is no possibility of significant RMB appreciation. The Chinese economy will not fluctuate greatly, China’s foreign trade is not uncontrollably affected by U.S. ‘reciprocal tariffs.’
BEIJING REVIEW China & The World Economy May 12, 2025
By embracing multilateralism and openness, China counters fragmentation and steers the world toward cooperation.
columnists China & The World Economy Mar 6, 2025
China does support the diversification of international currencies, which helps shore up the global economy’s ability to cope with risks.
BEIJING REVIEW ECONOMY WATCH China & The World Economy May 17, 2023
It is expected that the RMB will become the world’s third-largest reserve currency in the next decade.
columnists ECONOMY WATCH China & The World Economy 'My China Eye' Contributors Apr 19, 2022
Amid the COVID-19 pandemic and changing international situation, RMB internationalization has a bumpy road ahead, but one nonetheless filled with opportunities.
BEIJING REVIEW China & The World Economy Apr 15, 2022
For the last year, talk of the Chinese yuan becoming a major reserve currency has dominated headlines across the world. Is it time for the young lion to take charge of the pride?
contributors Economy Oct 18, 2018
On November 30th, the IMF board’s decision declared that China’s currency, the RMB, would be incorporated into the SDR. China’s hopes of seeing the RMB become part of the global reserve currency has been partially fulfilled. SDR is, by definition, a book asset that can be used by the members of the IMF for debt repayment and for narrowing the gap of international payments imbalance. China’s financial authority, the People’s Bank of China (PBC) reaction towards IMF’s decision appeared positive, considering that the decision was a recognition for China’s social and economic progress and was conducive for RMB internationalization. Well, China has reasons to be cheerful. On one hand, one of the ways of deciphering whether a currency should be incorporated into the SDR is through assessing the issuer’s world trade share. China is a massive market for global investors, and the trade with China is both significant for the country itself as well as the rest of the world. On the other hand, with the China’s economic power growing, the RMB has been widely used for regional and global economic and financial interactions. However, it is inappropriate to be overoptimistic. The role of a currency played in the world finance is essentially dependent on its competitive power. China is now facing an economic downturn and capital outflow that brings […]
China & The World Dec 1, 2015