Title

The Internationalization of the RMB: Opportunities and Pitfalls

Tatatoshi Ito

The Internationalization of the RMB: Opportunities and Pitfalls

China is making swift strides toward internationalizing its currency, the renminbi, but it must be careful when sequencing these changes. Without the proper reforms, wide-open Chinese financial markets would be vulnerable to massive flows of foreign capital that could send China into the throes of...