Context—The New Global Economy
? Post Bretton Woods "de facto" dollar standard
? Geo-economic/geopolitical shift
? Regional , bilateral and corporate integration
? Aftermath of 2007-09 financial crisis.
Context – China
? Second largest economy in the world but rebalancing the growth model
? Deepening commercialization and market orientation of the financial system
? Key role for the PBC in monetary policy
What role for the RMB?
? 1 + 4 model
Recent developments – globalization of the Yuan
? Yuan bloc
? Essential conditions for the internationalization of the Yuan
Conclusions |