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China must foster inter-region trust and confidence to further Rmb growth
With China’s growing importance as a trading partner in Asia, its ambitions for a bigger role for the Rmb in the international stage may soon be realised.

Apr 26, 2013 | Donghyun Park

The seismic shift in the global economic landscape in recent years consists of a sustained transfer of economic power from advanced countries to developing countries. In particular, China has emerged as the third major hub of the world economy alongside the US and the EU. The global financial and economic crisis of 2008–2009 accentuated this shift from the north to the south. The eurozone sovereign debt crisis has knocked the wind out of Europe’s stuttering recovery, while political deadlock over fiscal policy continues to cloud US growth prospects. While Abenomics has raised some early…

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Categories: Capital & Strategic Issues, Cash, Treasury & Trade, China, Risk and Regulation, Rmb, Transaction Banking
Keywords: ADB, Donghyun Park, IMF, Zhou Xiaochuan, PBoC
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