Geopolitical influences on the future of Renminbi

Author (Person)
Publisher
Series Title
Series Details No.82 (March 2017)
Publication Date 23/03/2017
Content Type

As of early 2017, the Chinese government had made great strides in its ambition to turn the Renminbi, sometimes known as Chinese Yuan, into a global reserve currency. The importance of Europe to China’s economy was unquestionable, so Brexit was an unwelcomed event. China’s resolve to reduce its US Dollar exposure had intensified following the election of Donald Trump as president of the United States in November 2016. This political friction reinforced concern by China that the US could intentionally slip into a situation in which a trade war might have occured. Such a trade war between China and the US could have a detrimental effect on the global economy.

Source Link http://aei.pitt.edu/86887/
Related Links
Chatham House: Expert Comment, 09.08.18: Weaker Renminbi Is More Than a Snub to Trump https://www.chathamhouse.org/expert/comment/weaker-renminbi-more-snub-trump
Elcano Royal Institute: Analyses of the Elcano Royal Institute (ARI) No. 84, 2018 (04.07.18): Renminbi internationalisation: stuck in mid-river – for now http://www.europeansources.info/record/renminbi-internationalisation-stuck-in-mid-river-for-now/
The Guardian, 20.07.18: Trump threatens to put tariffs on all $500bn Chinese imports – as it happened https://www.theguardian.com/business/live/2018/jul/20/trump-fed-criticism-currency-war-fears-yuan-uk-public-finances-business-live
Forbes, 21.07.18: China's Currency Manipulation Is A Response to Trump's Tariffs https://www.forbes.com/sites/charleswallace1/2018/07/21/chinas-currency-manipulation-is-a-response-to-trumps-tariffs/

Countries / Regions ,