from International Institutions and Global Governance Program and Greenberg Center for Geoeconomic Studies

Historical Precedents for Internationalization of the RMB

October 31, 2011

Report

More on:

China

Monetary Policy

Capital Flows

Overview

The twentieth century saw the rise of the U.S. dollar, the German mark, and the Japanese yen as international currencies. Now the Chinese renminbi is on a similar course toward reserve currency status, but its path is deviating from those of its predecessors in both aim and intent. In this Center for Geoeconomic Studies Working Paper, produced in association with CFR’s International Institutions and Global Governance program, Professor Jeffrey Frankel explains how the renminbi’s ascent is without historical precedent and why China might be pursuing such an unorthodox strategy.

More on:

China

Monetary Policy

Capital Flows

Top Stories on CFR

 

Nonproliferation, Arms Control, and Disarmament

Michael Krepon, cofounder of and distinguished fellow at the Stimson Center, sits down with James M. Lindsay to discuss the rise, demise, and possible revival of arms control efforts across the globe.

United States

Temporary protected status has long been used as a humanitarian solution for migrants who are unable to return home safely, but efforts to end the program have reignited the debate around U.S. immigration policy.