The rise of the Renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China’s general expansion in the ‘real’ world economy, and its accumulation of official foreign exchange reserves. There is no doubt that the role of the RMB for the global economy will increase. Just three decades ago, that seemed like a very remote notion. The question now is if the RMB will assume a pivotal role as an instrument for transactions in international trade and investment as well as, ultimately, as a reserve currency.
ECIPE invites you to the afternoon seminar with Professor Emeritus Sylvain Plasschaert, University of Antwerp and University of Leuven, who will present his new working paper on the Chinese currency and will discuss why the final stage of internationalization of RMB, as reserve currency, is more likely to take place later rather than sooner.