Chinese officials are committed to promoting wider international use of their country’s currency, the renminbi (RMB). RMB internationalization will entail a series of steps that will have to be implemented over time. This paper asks how the process of RMB internationalization will unfold, seeking to identify key steps. It then analyzes in what order those steps should be taken and how they should be related to one another.
Sequencing RMB Internationalization
CIGI Paper No. 69