RMB Internationalization Using Novel Bottom-up Approach, Vision-2030

DOI

10.2991/978-94-6463-527-0_2How to use a DOI?

Keywords

RMB Internationalization; Bottom-up Approach; Capital Mobility; Exchange rate volatility

Abstract

In this manuscript, we have framed key strengths of Chinese economy and how China can accelerate the pace of Renminbi (RMB) internationalization using a novel “bottom-up approach”. We have discussed about options China have to internationalize its currency and to what extent they are workable. We have proposed a model “Vision 2030”, explaining how to internationalize RMB without losing control over “Capital Mobility” and avoiding “Exchange Rate Volatility”, while RMB aiming to progress on path as second best option for international unit of account, medium of exchange, and store of value. An “Implementation Matrix” is supplemented to ensure the execution of proposed model. We have explained vital pre-requisites, which include strengthened digital financial market, aspects associated with Supply Chain Management and optimum utility of Network Externalities.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Syed Adnan Shah
AU  - Ufaq Adnan
AU  - Yiming He
PY  - 2024
DA  - 2024/09/28
TI  - RMB Internationalization Using Novel Bottom-up Approach, Vision-2030
BT  - Proceedings of the SSEME workshop on Economics and Management (SSEME-EM 2024)
PB  - Atlantis Press
SP  - 4
EP  - 14
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-527-0_2
DO  - 10.2991/978-94-6463-527-0_2
ID  - Shah2024
ER  -