China’s third attempt to internationalise its currency

In this episode of The Sound of Economics, Yuyun Zhan invites
Alessia Amighini and Alicia García-Herrero to discuss China’s
latest push to internationalise its currency, the Renminbi. They
talk about China’s previous two attempts, its approach to
internationalise the RMB this time around and the wider
implications of a strengthened RMB. This might prompt other
countries to try and strengthen their own currencies, which could
lead to a more fragmented financial system. Our experts discuss
how the euro, compared to the dollar, might be more affected by
this.

Relevant publications:


 Amighini, A. and A. García-Herrero (2023) ‘Third time
lucky? China’s push to internationalise the renminbi’, Policy
Brief 20/2023, Bruegel

China’s second attempt to internationalise the RMB by
launching its own digital currency, ZhōngHuá Mundus newsletter,
April 2021




This episode is part of the ZhōngHuá Mundus series of The Sound
of Economics. ZhōngHuá Mundus is a newsletter by Bruegel,
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