The International Political Economy of the Renminbi

The International Political Economy of the Renminbi Currency Internationalization and Reactive Currency Statecraft - Routledge Frontiers of Political Economy

Paperback (31 May 2023)

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Publisher's Synopsis

Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this book addresses the question of how foreign states have responded to the renminbi's internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring the international politics of currency internationalization. It builds a theoretical framework for analyzing a state's policy toward renminbi internationalization, developing the key concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States.

This book reveals that all four of these countries have deliberately utilized their policies related to renminbi internationalization as means of achieving their own foreign policy goals associated with China, goals that have been principally economic in some cases but political in others. Remarkably, the predominant mode of response to the renminbi's internationalization has been accommodative. Even the United States and Japan-China's chief geopolitical and also international currency rivals-have never attempted to actively suppress it.

This study provides new insights to anyone concerned with the transformation of the world monetary order, while also contributing a valuable analysis of the international politics surrounding the rise of China.

About the Publisher

Routledge

Routledge

Routledge is the world's leading academic publisher in the Humanities and Social Sciences. We publish thousands of books and journals each year, serving scholars, instructors, and professional communities worldwide. Our current publishing programme encompasses groundbreaking textbooks and premier, peer-reviewed research in the Social Sciences, Humanities, and Built Environment. We have partnered with many of the most influential societies and academic bodies to publish their journals and book series. Readers can access tens of thousands of print and e-books from our extensive catalogue of titles. Routledge is a member of Taylor & Francis Group, an informa business.

Book information

ISBN: 9781032077864
Publisher: Taylor & Francis
Imprint: Routledge
Pub date:
DEWEY: 332.4951
DEWEY edition: 23
Language: English
Number of pages: 188
Weight: 326g
Height: 154mm
Width: 233mm
Spine width: 22mm