- Consulting Editors
- List of Contributors
- The History of Biological Exploitation on the Pacific Rim
- Climate Risk and Response in the Pacific Rim
- Natural Disasters and Economic Policy for the Pacific Rim
- International Labor Migration in the Pacific Rim
- Age Compositional Shifts and Changing Intergenerational Transfers in Selected Asian Countries
- Human Capital Trends in the Pacific Rim
- Economic Growth and Performance on the Pacific Rim
- The New Structural Economics and Strategies for Sustained Economic Development in the Pacific Island Countries
- The Evolution of Fiscal Developments and Policies in the Pacific Rim
- Asia in Global Economic Governance
- Geoeconomics Versus Geopolitics: Implications for Asia
- The Political Economy of Asia-Pacific Trade Agreements
- Global Production Sharing and Trade Patterns in East Asia
- Foreign Trade of the Pacific-Rim Economies
- Are the Geese Still Flying? Catch-Up Industrialization in a Changing International Economic Environment
- Multinational Enterprises, Foreign Direct Investment, and the East Asian Economic Integration
- The Impact of Industrial Policy on Asian Growth: An Example From Taiwan
- Creative Industries: Socio-Economic Transformation as the New Face of Innovation
- The Road to Innovation in East Asia
- Asian Financial Crises
- The “Impossible Trinity,” The International Monetary Framework, and the Pacific Rim
- Rethinking Capital Account Liberalization
- Asian Currencies in the Global Imbalance and Global Financial Crisis
- Rebalancing of the World Economy and Asia
- China’s Financial Openness and Asset Return Linkages in East Asia
- The Offshore RMB Market in Hong Kong and RMB Internationalization
- Author Index
- Subject Index
Abstract and Keywords
The offshore renminbi (RMB) market in Hong Kong is one of China’s recent initiatives to liberalize its financial markets and promote the international use of the RMB. Its development is mainly driven and shaped by China’s policies rather than market forces. This chapter reviews the main developments of the nascent offshore RMB market, its prospects, and its links with China’s effort to internationalize its currency.
Yin-Wong Cheung is Professor of Economics at University of California, Santa Cruz.
Hui Miao is China and Hong Kong Equity Strategist and Director at Deutsche Bank.
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