The End of Euro-Dollar Supremacy: Will the Renminbi become the Global Currency?
Is China’s magnificent rise in the world economy increasing the appetite in Beijing to establish the Chinese currency, the Renminbi (RMB), as the leading world currency? China is advancing RMB internationalisation and increasingly takes away restrictions against using the currency for trade and current account transactions. Yet restrictions have not been lifted for all transactions – and capital account liberalisation, including a move to free convertibility, remains a highly charged issue in China.
Moreover, China’s financial sector is fragile. It is intransparent and closed for many foreign firms to such a degree that makes foreign actors suspicious about the stability of the RMB. Will China be able to do all the reforms required for the RMB to become a global currency alongside the dollar and the euro?
ECIPE and The Centre invite you to join our panellists:
- Frank Lavin, Chairman, Public Affairs Practice, Edelman Asia Pacific, and former US Under Secretary of Commerce
- Baudouin Regout, Adviser at the Bureau of European Policy Advisers and former head of the McKinsey Global Institute in Europe
- Razeen Sally, Director of ECIPE and Professor at the London School of Economics
- Shahin Vallée, Visiting Fellow, Bruegel and economist at BNP Paribas in London
- Moderated by Jill Craig, Deputy General Manager Edelman and The Centre
RSVP by sending an email with ‘Renminbi’ in the subject field and stating clearly your name and organisation to: email@example.com
Please note that this invitation is personal. As our room’s capacity is limited, registrations will be accepted on a first-come, first-served basis.