China’s Currency Internationalization: Domestic Debates and International Destiny
China’s growing weight in the global economy has intensified debate on the potential international role of its currency, the renmenbi (RMB). What are the motives behind RMB internationalization? Who are the actors shaping the debate on Chinese monetary policy? How likely is the RMB to replace the U.S. dollar in the current global currency hierarchy? Injoo Sohn, Associate Professor, Department of Politics and Public Administration, University of Hong Kong, addressed these questions in a presentation on “China’s Monetary Ambition: Renmenbi Internationalization in Comparative Perspective” at the Sigur Center for Asian Studies on February 26.