It seems today that everything in relation to the renminbi is the subject of hyperbole – positive or negative – in the international arena. Its valuation, for instance, is the subject of intense and extensive scrutiny and pressure, not just from the advanced economies led by the United States, but also from a range of China’s cohorts in the developing world, including its fellow Bric, Brazil. All the while Beijing’s efforts at internationalising the renminbi have been gaining traction against a