Geopolitical influences on the future of Renminbi

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Series Details No.82 (March 2017)
Publication Date 23/03/2017
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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.

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Chatham House: Expert Comment, 09.08.18: Weaker Renminbi Is More Than a Snub to 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
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Forbes, 21.07.18: China's Currency Manipulation Is A Response to Trump's Tariffs

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