Comments on Promoting Local Currency Usage in the Region

Abstract

June 01 2020 Comments on Promoting Local Currency Usage in the Region Author and Article Information Online Issn: 1536-0083 Print Issn: 1535-3516 © 2020 by the Asian Economic Panel and the Massachusetts Institute of Technology2020Asian Economic Panel and the Massachusetts Institute of Technology Asian Economic Papers (2020) 19 (2): 18–20. https://doi.org/10.1162/asep_a_00770 Cite Icon Cite Permissions Share Icon Share Facebook Twitter LinkedIn MailTo Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Search Site Citation Comments on Promoting Local Currency Usage in the Region. Asian Economic Papers 2020; 19 (2): 18–20. doi: https://doi.org/10.1162/asep_a_00770 Download citation file: Ris (Zotero) Reference Manager EasyBib Bookends Mendeley Papers EndNote RefWorks BibTex toolbar search Search Dropdown Menu toolbar search search input Search input auto suggest filter your search All ContentAll JournalsAsian Economic Papers Search Advanced Search Tao Liu, Central University of Finance and Economics: This paper provides a detailed and systematic analysis on polices trying to promote local currency usage. This topic attracted wide attention in the wake of the 2008–09 global financial crisis. The safety and sustainability of the international monetary system's currency centering around the U.S. dollar has been severely questioned. Many countries therefore seek to promote internationalization of their domestic currency. One example is the Chinese Renminbi, which officially joined the Special Drawing Right currency basket in 2016. Following this trend of currency internationalization, the author discusses (1) policies on the currency exchange market; (2) China's policy to promote RMB internationalization; (3) the Local Currency Settlement Framework (LCSF); and (4) the Asian Bond Market Initiative (ABMI) and Asian Bond Fund (ABF). The author's rich experience and expertise in this field make his arguments convincing and insightful. Here I provide some complementary thinking and... You do not currently have access to this content.