English | 2021 | ISBN: 9781032077833 | 207 pages | pdf | 11.64 MB
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 howforeign stateshave responded to the renminbi's internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring theinternational politicsof currency internationalization. It builds a theoretical framework for analyzing a state's policy toward renminbi internationalization, developing the key concept ofreactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States.