Chinese Currency Internationalization – Present and Expectations

The paper reveals the growing importance of the Chinese currency (yuan/renmimbi) in the international monetary system through its prospects as a possible alternative to the US dollar and euro or as part of a multipolar international monetary system that emerges. Even if the internationalization of the China’ currency has progressed, the yuan/renmimbi is far from what it represents an international currency, playing a modest role in the global economy.