{"product_id":"renminbi-rising-9781119218968","title":"Renminbi Rising","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eCritical analysis of RMB internationalization and the coming global currency shift\u003c\/b\u003e \u003cp\u003e\u003ci\u003eRenminbi Rising\u003c\/i\u003e charts the emergence of China''s internationalizing currency and provides an in-depth analysis of the global repercussions. Written by a team of renown economics researchers, this book describes the pressures that enabled the emergence of a new global monetary system and why China''s Renminbi (RMB) became the default ''second in line'' as the U.S. receded from leadership. Policy makers and regulators will appreciate the examination of the motivations behind those driving the shift, and financial professionals will find valuable guidance in the discussion surrounding business opportunities that the RMB brings to the table. Coverage includes the emergence of new Chinese-sponsored financial institutions, the scale of various RMB businesses and the coming transformation of the global financial system. \u003c\/p\u003e\u003cp\u003eEffective management of international monetary affairs has never been mo\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003eList of Figures xi\u003c\/p\u003e \u003cp\u003eList of Tables xiii\u003c\/p\u003e \u003cp\u003eForeword xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eAbout the Author xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Internationalizing the RMB 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Conditions for Becoming a Global Currency 2\u003c\/p\u003e \u003cp\u003eBusiness and RMB 10\u003c\/p\u003e \u003cp\u003eRMB-Product Markets 11\u003c\/p\u003e \u003cp\u003eReserve Currency 14\u003c\/p\u003e \u003cp\u003eThe Emerging Monetary Order 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 The Rise and Fall of Currencies – Historical Lessons for the RMB 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRisks in International Monetary System Transitions 23\u003c\/p\u003e \u003cp\u003eThe Role of Eurodollars in the 2008 Global Financial Crisis 26\u003c\/p\u003e \u003cp\u003e2008: Year Zero for a New International Monetary System? 27\u003c\/p\u003e \u003cp\u003eConditions for Currency Internationalization: Market Demand and Institutional Supply 30\u003c\/p\u003e \u003cp\u003eInstitutional Inertia and Disruptive Events 35\u003c\/p\u003e \u003cp\u003eOffshore Currencies and International Liquidity 36\u003c\/p\u003e \u003cp\u003eCurrent International Reactions to the RMB’s Rise 41\u003c\/p\u003e \u003cp\u003eRMB Internationalization 44\u003c\/p\u003e \u003cp\u003eConclusion 46\u003c\/p\u003e \u003cp\u003eReferences 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Economic and Institutional Foundations for the Rise of the RMB 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEconomic Foundation 49\u003c\/p\u003e \u003cp\u003eSurprises 58\u003c\/p\u003e \u003cp\u003eNew Growth Engines 60\u003c\/p\u003e \u003cp\u003eCapital-Account Liberalization 62\u003c\/p\u003e \u003cp\u003eInstitutional Quality 68\u003c\/p\u003e \u003cp\u003eConclusion 80\u003c\/p\u003e \u003cp\u003eReferences 81\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Can the Chinese Bond Market Support a Potential Global Renminbi? 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview of the Chinese Bond Market 84\u003c\/p\u003e \u003cp\u003eChinese Treasury Market in International Perspective 91\u003c\/p\u003e \u003cp\u003eA Dilemma and a Bold Public-Debt Consolidation Scheme 98\u003c\/p\u003e \u003cp\u003eGovernment-Backed Debt Securities 103\u003c\/p\u003e \u003cp\u003eConclusion 107\u003c\/p\u003e \u003cp\u003eReferences 107\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Waxing and Waning of the Chinese Stock and Banking Markets 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChinese Stock Market: Growing Despite Immaturity Flaws 109\u003c\/p\u003e \u003cp\u003eA Massive Chinese Banking Market Opening 125\u003c\/p\u003e \u003cp\u003eConclusion 133\u003c\/p\u003e \u003cp\u003eReferences 133\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Rising FX Turnover of the RMB 135\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCould the Market Accommodate More Global Currencies? 135\u003c\/p\u003e \u003cp\u003eWhat Determines the FX Liquidity of the RMB? 138\u003c\/p\u003e \u003cp\u003ePotential for Rising RMB Turnover by Market Segment 143\u003c\/p\u003e \u003cp\u003eConclusion 149\u003c\/p\u003e \u003cp\u003eReferences 150\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 A Spreading Global Network for RMB Trade 151\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe RMB’s International Position 152\u003c\/p\u003e \u003cp\u003eHong Kong Still the Dominant Offshore RMB Center 155\u003c\/p\u003e \u003cp\u003eMore Offshore Centers Catch Up to Spread a Global Network 158\u003c\/p\u003e \u003cp\u003eProspects for Offshore RMB Centers 164\u003c\/p\u003e \u003cp\u003eConclusion 169\u003c\/p\u003e \u003cp\u003eReferences 169\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Brief Examples of Business Use of the Internationalizing RMB 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSamsung’s Use of RMB to Reduce Foreign Exchange Conversion Costs 171\u003c\/p\u003e \u003cp\u003eAlstom’s Use of RMB as Corporate Treasury Currency 173\u003c\/p\u003e \u003cp\u003eChinese Importers’ Profit Incentives from Use of RMB Trade Settlement: Changhong 175\u003c\/p\u003e \u003cp\u003eConclusion 178\u003c\/p\u003e \u003cp\u003eReference 178\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 The RMB as a Reserve Currency 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobal Perspectives 179\u003c\/p\u003e \u003cp\u003eScale of RMB Holdings 181\u003c\/p\u003e \u003cp\u003eDrivers of Change 182\u003c\/p\u003e \u003cp\u003eExchanging RMB in a Crisis 190\u003c\/p\u003e \u003cp\u003eOnshore and Offshore Access 190\u003c\/p\u003e \u003cp\u003eOffshore Alternatives 191\u003c\/p\u003e \u003cp\u003eConservatives Change Course 192\u003c\/p\u003e \u003cp\u003eRoadblocks Ahead? 193\u003c\/p\u003e \u003cp\u003eRMB Inclusion in SDR 195\u003c\/p\u003e \u003cp\u003eCapital-Account Reform 197\u003c\/p\u003e \u003cp\u003eConclusion 198\u003c\/p\u003e \u003cp\u003eReferences 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Concluding Reflections 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAppendix A: China RMB Financial Statistics and Forecasts by Other Institutions 207\u003c\/p\u003e \u003cp\u003eGlossary 213\u003c\/p\u003e \u003cp\u003eIndex 215\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407009685847,"sku":"9781119218968","price":28.49,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119218968.jpg?v=1730497872","url":"https:\/\/bookcurl.com\/products\/renminbi-rising-9781119218968","provider":"Book Curl","version":"1.0","type":"link"}