One Currency, Two Markets: China's Attempt to Internationalize the Renminbi - Tapa blanda

Lai, Edwin L.-C.

 
9781108740586: One Currency, Two Markets: China's Attempt to Internationalize the Renminbi
Tapa blanda
ISBN 10: 1108740588 ISBN 13: 9781108740586
Editorial: Cambridge University Press, 2026

Sinopsis

This book is for anyone who is interested in the economic analysis of the future of the international monetary system and the USD, and the rising importance of the RMB. It points out the unsustainability of the dollar standard in the long run, that China has unique incentives to internationalize its currency, and how Hong Kong plays an important role. It explains the real reasons for China to internationalize its currency, including using external commitments to force financial sector reforms ('daobi' in Chinese). It applies economic theories accessible to laymen to establish that financial development and openness are crucial for RMB internationalization to succeed, and that greater exchange rate volatility is inevitable due to the 'open-economy trilemma'. Employing the 'gravity model', the book predicts quantitatively that the RMB is likely to be a distant third payment currency after the USD and the euro, but surpassing the Japanese yen in the next decade.

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Acerca del autor

Edwin L. -C. Lai is Professor of Economics at HKUST. He has been Senior Research Economist and Adviser at the Federal Reserve Bank of Dallas, a consultant with the World Bank and a visiting fellow with Princeton University. He is an associate editor of Review of International Economics and has published in many top economics journals.

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Editorial
Cambridge University Press
Año de publicación
2026
Idioma
Inglés
ISBN 10 
1108740588
ISBN 13 
9781108740586
Encuadernación
Paperback
Número de páginas
345
Contacto del fabricante
no disponible
Persona responsable
no disponible

Otras ediciones populares con el mismo título

9781108491686: One Currency, Two Markets: China's Attempt to Internationalize the Renminbi

Edición Destacada

ISBN 10:  1108491685 ISBN 13:  9781108491686
Editorial: Cambridge University Press, 2021
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