Handbook on China and Globalization
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Handbook on China and Globalization

Edited by Huiyao Wang and Lu Miao

An excellent guide for understanding the trends, challenges and opportunities facing China through globalization, this Handbook answers the pertinent questions regarding the globalization process and China’s influence on the world.
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Chapter 11: Could the People’s currency become the global currency?

Giles Chance

Abstract

China’s economy has been thriving and will see a vigorous growth in the upcoming years. This chapter reviews China’s monetary history and explores the key driving forces that have strengthened China’s currency, and its adjustment of currency policy. The central outlook in the short and medium term is for a Chinese currency that plays a powerful role in Asia, and an increasingly important role elsewhere, but does not usurp the dollar’s global currency role.

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