Asia’s push for monetary alternatives
Date
2022-12
Authors
Contributor
Advisor
Department
Instructor
Depositor
Speaker
Researcher
Consultant
Interviewer
Narrator
Transcriber
Annotator
Journal Title
Journal ISSN
Volume Title
Publisher
Honolulu, HI : East-West Center
Volume
Number/Issue
Starting Page
Ending Page
Alternative Title
Abstract
For the last quarter century, Asia has been seeking greater autonomy within the existing international monetary system. While the region has had the resources to go its own way, intraregional rivalries and a reluctance to damage ties to the US and the International Monetary Fund have put a damper on regional initiatives. Now the ascendency of China offers a path toward greater regional autonomy in monetary affairs. Asia, led by China, has been playing a two-track strategy pushing for greater influence within the existing global institutions, while developing its own parallel institutions such as the Chiang Mai Initiative Multilateralization, the Belt and Road Initiative, and the Asian Infrastructure Investment Bank. Use of the Chinese renminbi will likely grow as a trade invoicing currency but expanded use of the renminbi as a reserve currency is more uncertain. It is possible that the dollar-centered international financial system could evolve into a multipolar system with multiple currencies playing key roles.
Description
For more about the East-West Center, see http://www.eastwestcenter.org/
Keywords
International finance, Asia - Foreign economic relations - China, China - Foreign economic relations - Asia, Multipolarity (International relations)
Citation
Extent
8 p.
Format
Report
Geographic Location
China
South Asia
Southeast Asia
South Asia
Southeast Asia
Time Period
Related To
AsiaPacific Issues ; no. 156
Related To (URI)
Table of Contents
Rights
Rights Holder
Local Contexts
Collections
Email libraryada-l@lists.hawaii.edu if you need this content in ADA-compliant format.