书目名称 | Is China‘s Currency Increasingly Important? | 副标题 | New Evidence from Re | 编辑 | Yinggang Zhou,Xin Cheng | 视频video | | 概述 | Discusses the role of the Chinese Yuan in the international market under the changing monetary system.Measures the global and regional importance of Chinese Yuan using its exchange rates.Shows how the | 图书封面 |  | 描述 | China’s economic achievements laid solid foundations for RMB‘s international standing. By the end of 2022, China accounted for 18.6% of the global economy and 14.4% of world exports..However, there is a huge gap between the yuan’s growing prominence and its global use. RMB remains underutilized compared to the U.S. dollar. This book attempts to fill this gap from the view of the systemic importance of the RMB exchange rate, an angle that could be easily overlooked. We argue that pricing is too important to be relegated to an afterthought. The change of RMB exchange rate could have a systemic impact on the global financial system. Furthermore, we present substantial evidence that RMB is gaining importance globally and regionally as an anchor currency and safe-haven currency, indicating that RMB is becoming systemically important despite its relatively limited international use..It is important to understand in depth that the force that has helped fuel China’s rapid economic growth over the past few decades has been globalization and that market reform and opening up are the pillars of RMB internationalization. Currently, the new trends of anti-globalization and de-financialization h | 出版日期 | Book 2024 | 关键词 | Chinese yuan’s rising status; impact of RMB’s exchange rate changes; spillover effect of RMB; source of | 版次 | 1 | doi | https://doi.org/10.1007/978-981-97-1164-2 | isbn_softcover | 978-981-97-1166-6 | isbn_ebook | 978-981-97-1164-2 | copyright | The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapor |
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