Beijing’s second thought

Hui Feng

A notable development in the international monetary scene in recent years has been a blistering growth in the use of the renminbi outside China, particularly among its neighbouring countries. As the previous article shows, however, the degree of internationalisation is still largely limited compared with major international currencies, such as the US dollar, the UK sterling and the Japanese yen, among residents and non-residents. This article looks at the factors that have weighed on this develo

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