Already the world’s second-largest economy, China is pursuing the integration of the renminbi (RMB) into the global economic complex. Despite a tumultuous summer in 2015 – which saw the Chinese economy experience a slowdown, a collapsing stock market and a currency devaluation – the RMB is taking on an ever greater presence in global business transactions and trading. Though published just before the RMB’s official acceptance into the International Monetary Fund’s Special Drawing Rights basket, this informative Economist Intelligence Unit survey details the current state of the Chinese currency and its expected trajectory as an institutional investment and global reserve currency. getAbstract recommends this report to executives looking for a concise yet thorough examination of where the RMB is headed in the future.
In this summary, you will learn
- How the renminbi is shaping up to become a future global reserve currency;
- What steps markets, financial institutions and Chinese authorities are taking to achieve this end; and
- How global firms can navigate the process.
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The Economist Intelligence Unit is an independent research and analysis organization.