It should come as no surprise to keen observers of the global economy that the international role of the renminbi will gradually rise over time. With China already being the fourth largest economy and the third largest trading partner in the world, there are indications of an increasing use of the renminbi outside Mainland China. This book is a collection of ten papers examining international experiences of currency internationalization and the implications for the renminbi. The book is divided into two parts. The four papers in the first part consider the experiences of a number of economies in the external use of their currencies. The second part of the monograph documents the already rising regional importance of the renminbi and discusses key issues in the process of an increasing use of the renminbi in international trade and finance, including: *prospects and determinants of renminbi internationalization *financial market developments and renminbi internationalization *monetary policy and the external use of the renminbi
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