G2TT
来源类型Papers
规范类型论文
来源IDCIGI Paper No. 84
Much Ado about Nothing? The RMB's Inclusion in the SDR Basket
Hongying Wang
发表日期2015-12-04
出版年2015
语种英语
摘要

The International Monetary Fund recently concluded its quinquennial review of the composition of the Special Drawing Right (SDR), accepting the Chinese currency into the SDR basket alongside four major international currencies — the US dollar, the euro, the British pound and the Japanese yen. The Chinese government has spent a great deal of energy and political capital to achieve this outcome. This policy paper explains China’s interest in this seemingly exotic and technical pursuit, identifying the political and economic motivations underlying this initiative. It discusses the controversial reactions to China’s bid for the SDR basket from the international community and from various groups within China. It also explores some plausible and implausible consequences of the renminbi’s (RMB’s) inclusion in the SDR basket. It argues that the inclusion of the Chinese currency in the SDR basket may well play a facilitating role in China’s financial liberalization, but it does not in itself transform the RMB into a global reserve currency. The latter will involve a more protracted process, requiring serious institutional reforms in China.

主题Trade & Finance
子主题Central Banking & International Finance ; China's Role in the Global Economy
URLhttps://www.cigionline.org/publications/much-ado-about-nothing-rmbs-inclusion-sdr-basket
来源智库Centre for International Governance Innovation (Canada)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/180535
推荐引用方式
GB/T 7714
Hongying Wang. Much Ado about Nothing? The RMB's Inclusion in the SDR Basket. 2015.
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