Publisher's Synopsis
With the continuous rise in the status and importance of China in regional and global economies, the influence of the Renminbi grows proportionately. Currency Reform has become a crucial and inevitable policy choice for China. Based on recent theoretical frameworks and quantitative analyses, this book explores the necessity, feasibility and specific pathway and measures of regionalization and internationalization of the Renminbi as well as provides new perspectives for the internationalization progress of the currencies of developing economic powers. This book highlights: 1. The East Asia Consensus and the RMB Regionalization 2. Trade Expansion VS. Renminbi Exchange Rate Regime 3. Development of the RMB Offshore Market as the Anchor Currency in Trade Settlement
