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Renminbi Rising: A New Global Monetary System Emerges

Overholt, William H., Guonan Ma, and Cheung-kwok Law*. 2016. Renminbi Rising: A New Global Monetary System Emerges. West Sussex: John Wiley and Sons. (Go)                               Renminbi Rising charts the emergence of China's internationalizing currency and provides an in-depth analysis of the global repercussions. Written by a team of renown economics researchers, this book describes the pressures that enabled the emergence of a new global monetary system and why China's Renminbi (RMB) became the default 'second in line' as the U.S. receded from leadership. Policy makers and regulators will appreciate the examination of the motivations behind those driving the shift, and financial professionals will find valuable guidance in the discussion surrounding business opportunities that the RMB brings to the table. Coverage includes the emergence of new Chinese-sponsored financial institutions, the scale of various RMB businesses and the coming transformation of the global financial system.