The People's Money

How China Is Building a Global Currency
Erscheinungsjahr 2016
ISBN: 978-0-231-17346-9
Verlag: Columbia University Press

Buch, Englisch, 256 Seiten, Format (B × H): 161 mm x 238 mm, Gewicht: 500 g

Many of the world's major economies boast dominant international currencies. Not so for China. Its renminbi has lagged far behind the pound, the euro, and the dollar in global circulation—and for good reason. China has long privileged economic policies that have fueled development at the expense of the renminbi's growth, and it has become clear that the underpowered currency is threatening China's future. The nation's leaders now face the daunting task of strengthening the currency without losing control of the nation's economy or risking total collapse. How are they approaching this challenge?

In The People's Money, economist Paola Subacchi introduces readers to China's monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in1978. She revisits the policies that fostered the country's economic rise while at the same time purposefully creating a currency of little use beyond China's borders. She shows the key to understanding China's economic predicament lies in past and future strategies for the renminbi. The financial turbulence following the global crisis of 2008, coupled with China's ambitions as a global creditor and chief economic power, has forced the nation to reckon with the limited international circulation of the renminbi. Increasing the renminbi's reach will play a major role in securing China's future.

Autoren/Hrsg.

Subacchi, Paola

Fachgebiete

• Wirtschaftswissenschaften Wirtschaftswissenschaften Wirtschaftsgeschichte
• Geisteswissenschaften Geschichtswissenschaft Geschichtliche Themen Wirtschaftsgeschichte
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geldwirtschaft, Währungspolitik
• Geisteswissenschaften Geschichtswissenschaft Weltgeschichte & Geschichte einzelner Länder und Gebietsräume Geschichte einzelner Länder Asiatische Geschichte

Über Autor(innen)

Paola Subacchi is the director of international economics research at Chatham House (the Royal College of International Affairs) in London. She is a regular media commentator writes for Project Syndicate and Foreign Policy.