Renminbi rising : a new global monetary system emerges /: a new global monetary system emerges. (2016)

• Record Type: Book
• Further Information: Note: William H. Overholt, Guonan Ma, C.K. Law.
• Authors: Overholt, William H; Ma, Guonan; Luo, Xiangguo
• Contents: List of Figures List of Tables Foreword Acknowledgments About the Authors Chapter 1: Internationalizing the RMB The Conditions for Becoming a Global Currency Business and RMB RMB-Product Markets Reserve Currency The Emerging Monetary Order Chapter 2: The Rise and Fall of Currencies – Historical Lessons for the RMB Risks in International Monetary System Transitions The Role of Eurodollars in the 2008 Global Financial Crisis 2008: Year Zero for a New International Monetary System? Conditions for Currency Internationalization: Market Demand and Institutional Supply Institutional Inertia and Disruptive Events Offshore Currencies and International Liquidity Current International Reactions to the RMB’s Rise RMB Internationalization Conclusion References Chapter 3: Economic and Institutional Foundations for the Rise of the RMB Economic Foundation Surprises New Growth Engines Capital-Account Liberalization Institutional Quality Conclusion References Chapter 4: Can the Chinese Bond Market Support a Potential Global Renminbi? Overview of the Chinese Bond Market Chinese Treasury Market in International Perspective A Dilemma and a Bold Public-Debt Consolidation Scheme Government-Backed Debt Securities Conclusion References Chapter 5: Waxing and Waning of the Chinese Stock and Banking Markets Chinese Stock Market: Growing Despite Immaturity Flaws A Massive Chinese Banking Market Opening Conclusion References Chapter 6: Rising FX Turnover of the RMB Could the Market Accommodate More Global Currencies? What Determines the FX Liquidity of the RMB? Potential for Rising RMB Turnover by Market Segment Conclusion References Chapter 7: A Spreading Global Network for RMB Trade The RMB’s International Position Hong Kong Still the Dominant Offshore RMB Center More Offshore Centers Catch Up to Spread a Global Network Prospects for Offshore RMB Centers Conclusion References Chapter 8: Brief Examples of Business Use of the Internationalizing RMB Samsung’s Use of RMB to Reduce Foreign Exchange Conversion Costs Alstom’s Use of RMB as Corporate Treasury Currency Chinese Importers’ Profit Incentives from Use of RMB Trade Settlement: Changhong Conclusion Reference Chapter 9: The RMB as a Reserve Currency Global Perspectives Scale of RMB Holdings Drivers of Change Exchanging RMB in a Crisis Onshore and Offshore Access Offshore Alternatives Conservatives Change Course Roadblocks Ahead? RMB Inclusion in SDR Capital-Account Reform Conclusion References Chapter 10: Concluding Reflections Appendix A: China RMB Financial Statistics and Forecasts by Other Institutions Glossary Index
• Edition: 1st
• Publisher Details: Hoboken, New Jersey : John Wiley & Sons, Inc
• Publication Date: 2016
• Extent: 1 online resource
• Subjects: 332.450951; Renminbi; Finance -- China; China -- Foreign economic relations
• Languages: English
• ISBNs: 9781119218975; 9781119218982
• Related ISBNs: 9781119218968
• Notes: Note: Includes bibliographical references and index.; Note: Description based on CIP data; item not viewed.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
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