Tag Archives | Renminbi
Finance sector development
Can internationalization of the renminbi succeed where internationalization of the yen failed?
Since the second half of the 1990s, Japan has tried to promote the use of the yen as an international currency but has made little progress so far. Now, following in Japan’s footsteps, the People’s Republic of China (PRC) is promoting the internationalization of the renminbi. It would do well to consider why Japan’s attempt at internationalizing the yen has failed. Until the Asian financial crisis in the second half of the 1990s, Japan was reluctant to promote the internationalization of the yen, fearing that capital flows could destabilize the economy and render monetary policy ineffective, a problem widely considered to be the major cost for a country promoting the international use of its currency.
Search
Subscribe / Connect to Asia Pathways
Subjects
- Agriculture and natural resources
- Blog
- Capacity development
- Climate change
- Economics
- Education
- Energy
- Environment
- Finance sector development
- Gender
- Governance and public sector management
- Health
- Industry and trade
- Information and Communications Technology
- Infrastructure
- Miscellaneous
- Population
- Poverty
- Private sector development
- Regional cooperation and integration
- Sanitation
- Social development and protection
- Transport
- Uncategorized
- Urban development
- Video Blog
- Water
Recent Posts
- Development of the Creative Economy in Asia and the Pacific
- Kashima City’s Great Transformation: Where Industry Meets Community
- Mechanization Driving the Future of Agriculture in Asia
- Natural Capital: Valuing Nature to Protect and Restore Ecosystem Services for Sustainable Development
- Funding a Resilient Future: Bridging Climate Financing Gaps
Recent Comments