Past eventMembers

The Renminbi: A New Global Currency?

Chatham House, London

Participants

Dr Gordon Cheung, Director, Centre for Contemporary Chinese Studies, Durham University
Dr Gao Haihong, Professor and Director, Research Centre for International Finance, China Academy of Social Sciences
Dr Paola Subacchi, Research Director, International Economics, Chatham House; Author, The People's Money: How China is Building a Global Currency
Chair: Linda Yueh, Fellow in Economics, St Edmund Hall, Oxford University; Adjunct Professor of Economics, London Business School

Overview

Unlike many other of the world’s major economies, China has, in its recent history, privileged economic policies that have fuelled development at the expense of the renminbi's growth. However, these priorities are changing as China looks to build the renminbi into a global currency and the nation's leaders now face the challenge of strengthening the currency without risking a major economic downturn.

Our panel will look back at the development of China’s currency, unpack its reliance on the dollar and consider how China is approaching the challenge of building a global currency whilst trying to keep economic stability. The event will end with the panellists discussing how the changing relationship between China and the US might impact on the development of the renminbi as an international currency.