Posts tagged 'RMB'

RMB Globalization, Once “Unstoppable,” Heads Into Reverseby Benn Steil and Emma Smith April 6, 2017 “The globalisation of the [Chinese RMB] seems remorseless and unstoppable,” the Economist pronounced in April 2014.  A year later, a research-grant foundation asked me (Benn) to review a proposal to investigate three scenarios for RMB globalization: more, much more, and way more. ... read more

Mini Mac Trumps the Big MacPosted on January 19, 2017 10:28 am by Benn Steil and Emma Smith of the Council on Foreign RelationsThe “law of one price” holds that identical goods should trade for the same price in an efficient market.  But how well does it actually hold internationally? The Economist magazine’s famous Big... read more

China’s Bond Market Can’t Handle a Global RMBby Benn Steil and Emma SmithThe Chinese RMB’s ascension into the IMF’s SDR currency basket in October has been widely seen as an important first step on its path to becoming a global reserve currency.  But we would argue that the path is a very long one, and that even rivaling... read more