| ID | 138897 |
| Title Proper | Renminbi in ordinary economies |
| Other Title Information | a demand-side study of currency globalization |
| Language | ENG |
| Author | Chey, Hyoung-kyu |
| Summary / Abstract (Note) | Most studies of renminbi internationalization focus on the supply side, by examining China's own economic and political conditions. In contrast, this study addresses the demand side of renminbi internationalization, by providing an in-depth analysis of renminbi use in ordinary foreign economies from both economic and political perspectives, with a particular focus on South Korea, China's next-door neighbor. The study finds that sustainable indigenous market forces facilitating renminbi use in South Korea remain weak, despite the country's close economic ties with China. This research also shows, however, that the Korean Government has itself recently been able, through its policy measures, to generate new domestic support for greater use of the renminbi. These findings ultimately highlight the significant impact on the internationalization of a currency of the politics in the foreign countries using it. |
| `In' analytical Note | China and World Economy Vol. 23, No.3; May/Jun 2015: p.1–21 |
| Journal Source | China and World Economy 2015-06 23, 3 |
| Key Words | Renminbi Internationalization ; Global Currency ; International Currency ; Currency Internationalization |