from International Institutions and Global Governance Program and Greenberg Center for Geoeconomic Studies

Historical Precedents for Internationalization of the RMB

October 31, 2011

Report

Overview

The twentieth century saw the rise of the U.S. dollar, the German mark, and the Japanese yen as international currencies. Now the Chinese renminbi is on a similar course toward reserve currency status, but its path is deviating from those of its predecessors in both aim and intent. In this Center for Geoeconomic Studies Working Paper, produced in association with CFR’s International Institutions and Global Governance program, Professor Jeffrey Frankel explains how the renminbi’s ascent is without historical precedent and why China might be pursuing such an unorthodox strategy.

Top Stories on CFR

Mexico

Organized crime fuels Mexico’s election violence, plus Europe’s Southern Cone cocaine pipeline

Organized crime’s hold on local governments fuels record election violence; Europe’s cocaine pipeline shifting to the Southern Cone.

Blog Post by Shannon K. O'Neil and Will Freeman April 24, 2024 Latin America’s Moment

Defense and Security

Challenges Facing the U.S. Military, With John Barrientos and Kristen Thompson

John Barrientos, a captain in the U.S. Navy and a visiting military fellow at CFR, and Kristen Thompson, a colonel in the U.S. Air Force and a visiting military fellow at CFR, sit down with James M. Lindsay to provide an inside view on how the U.S. military is adapting to the challenges it faces.

Podcast with James M. Lindsay, John P. Barrientos and Kristen D. Thompson April 23, 2024 The President’s Inbox

Myanmar

The Bottom Is Falling Out for Myanmar’s Junta

The Myanmar army is experiencing a rapid rise in defections and military losses, posing questions about the continued viability of the junta’s grip on power.

Blog Post by Joshua Kurlantzick April 22, 2024 Asia Unbound