The Asian Infrastructure Investment Bank, the New Development Bank and the Internationalisation of the Renminbi (RMB) – The New International Financial Institutions as Part of the Chinese Strategy to Build Up an International Reserve Currency
China’s economic rise is being followed by an increasingly assertive foreign policy, which is marked by criticism of the current international financial system and attempts to change it. Beijing’s leading role in the launch of two international financial institutions (IFI) – the Asian Infrastructure...
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| Format: | Article |
| Language: | English |
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National Sun Yat-sen University
2018-12-01
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| Series: | Contemporary Chinese Political Economy and Strategic Relations: An International Journal |
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| Online Access: | http://icaps.nsysu.edu.tw/var/file/131/1131/img/2375/516297856.pdf |
| Summary: | China’s economic rise is being followed by an increasingly assertive foreign policy, which is marked by criticism of the current international financial system and attempts to change it. Beijing’s leading role in the launch of two international financial institutions (IFI) – the Asian Infrastructure Investment Bank and the New Development Bank – is a good example of these attempts. Chinese leaders are wary that international financial leadership necessarily requires the internationalisation of its currency, and their leading position within the new IFIs provides a good opportunity to internationalise the renminbi. |
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| ISSN: | 2410-9681 2410-9681 |