ADB Distinguished Speakers Program: Barry Eichengreen

Events

ADB Distinguished Speakers Program: Barry Eichengreen

11 January 2013
Manila
Philippines

Internationalization of the renminbi is a stated goal of the Chinese government, its brief flirtation with Special Drawing Rights and an Asian Currency Unit notwithstanding. Chinese officials understand that a dollar-centric international monetary and financial system is a mixed blessing. Doing cross-border business in their own currency confers convenience value and efficiency advantages on United States (US) banks and firms. It frees them from the costs of converting currencies and hedging exchange rate exposures, something that Chinese banks and firms will enjoy only when they are similarly able to conduct international transactions in their home currency.

Barry Eichengreen, economics and political science professor at the University of California Berkeley, examined prospects for renminbi internationalization and analyzed how it relates to the PRC's economic rebalancing. He discussed issues of scale, stability, and liquidity critical for the renminbi to become an international reserve currency. 

Program and Learning Materials: 
Date Session / Activity Presentation Material Speaker(s)
11 Jan 2013 Presentation Renminbi Internationalization: Tempest in a Teapot?
Barry Eichengreen examined prospects for renminbi internationalization and analyzed how it relates to the PRC's economic rebalancing. He discussed...
Barry Eichengreen

Disclaimer

The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.