| 000 | 03758nam a22005295i 4500 | ||
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| 001 | 978-981-97-1164-2 | ||
| 003 | DE-He213 | ||
| 005 | 20251030112102.0 | ||
| 007 | cr nn 008mamaa | ||
| 008 | 240527s2024 si | s |||| 0|eng d | ||
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_a9789819711642 _9978-981-97-1164-2 |
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| 024 | 7 |
_a10.1007/978-981-97-1164-2 _2doi |
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_aKFF _2bicssc |
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_aBUS027000 _2bisacsh |
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_aKFF _2thema |
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| 100 | 1 |
_aZhou, Yinggang. _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut _977567 |
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| 245 | 1 | 0 |
_aIs China's Currency Increasingly Important? _h[electronic resource] : _bNew Evidence from Renminbi Exchange Rates / _cby Yinggang Zhou, Xin Cheng. |
| 250 | _a1st ed. 2024. | ||
| 264 | 1 |
_aSingapore : _bSpringer Nature Singapore : _bImprint: Springer, _c2024. |
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| 300 |
_aIX, 114 p. 28 illus., 2 illus. in color. _bonline resource. |
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| 336 |
_atext _btxt _2rdacontent |
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_acomputer _bc _2rdamedia |
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_aonline resource _bcr _2rdacarrier |
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_atext file _bPDF _2rda |
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| 505 | 0 | _aChapter 1 Introduction -- Chapter 2 Literature Review -- Chapter 3 Is RMB Becoming Systemically Important? -- Chapter 4 Why is RMB Systemically Important? -- Chapter 5 Is RMB a Safe Haven Currency? -- Chapter 6 Conclusions -- References. | |
| 520 | _aChina’s economic achievements laid solid foundations for RMB's international standing. By the end of 2022, China accounted for 18.6% of the global economy and 14.4% of world exports. However, there is a huge gap between the yuan’s growing prominence and its global use. RMB remains underutilized compared to the U.S. dollar. This book attempts to fill this gap from the view of the systemic importance of the RMB exchange rate, an angle that could be easily overlooked. We argue that pricing is too important to be relegated to an afterthought. The change of RMB exchange rate could have a systemic impact on the global financial system. Furthermore, we present substantial evidence that RMB is gaining importance globally and regionally as an anchor currency and safe-haven currency, indicating that RMB is becoming systemically important despite its relatively limited international use. It is important to understand in depth that the force that has helped fuel China’s rapid economic growth over the past few decades has been globalization and that market reform and opening up are the pillars of RMB internationalization. Currently, the new trends of anti-globalization and de-financialization have emerged. The global monetary and financial system must be reframed according to the financial needs of socially sustainable activities to prevent systemic instability and system-wide economic/social catastrophes. Against this backdrop, further internationalization of RMB should serve the real sectors in high-quality economic development. | ||
| 650 | 0 |
_aFinance. _958339 |
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| 650 | 0 |
_aInternational economic relations. _958104 |
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| 650 | 0 |
_aInternational finance. _957834 |
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| 650 | 1 | 4 |
_aFinancial Economics. _969737 |
| 650 | 2 | 4 |
_aInternational Economics. _957966 |
| 650 | 2 | 4 |
_aInternational Finance. _957834 |
| 700 | 1 |
_aCheng, Xin. _eauthor. _4aut _4http://id.loc.gov/vocabulary/relators/aut _977568 |
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| 710 | 2 | _aSpringerLink (Online service) | |
| 773 | 0 | _tSpringer Nature eBook | |
| 776 | 0 | 8 |
_iPrinted edition: _z9789819711635 |
| 776 | 0 | 8 |
_iPrinted edition: _z9789819711659 |
| 776 | 0 | 8 |
_iPrinted edition: _z9789819711666 |
| 856 | 4 | 0 | _uhttps://doi.org/10.1007/978-981-97-1164-2 |
| 912 | _aZDB-2-ECF | ||
| 912 | _aZDB-2-SXEF | ||
| 999 |
_c60181 _d60181 |
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