A concluding note
In: Contexto internacional, Band 37, Heft 3, S. 1069-1080
ISSN: 1982-0240
In: Contexto internacional, Band 37, Heft 3, S. 1069-1080
ISSN: 1982-0240
In: Contemporary politics, Band 21, Heft 2, S. 220-230
ISSN: 1469-3631
In: Perspectives on politics, Band 13, Heft 2, S. 586-587
ISSN: 1541-0986
In: Political science quarterly: a nonpartisan journal devoted to the study and analysis of government, politics and international affairs ; PSQ, Band 130, Heft 2, S. 347-348
ISSN: 1538-165X
In: Political science quarterly: a nonpartisan journal devoted to the study and analysis of government, politics and international affairs ; PSQ, Band 130, Heft 3, S. 538-540
ISSN: 1538-165X
World Affairs Online
For many observers, internationalization is the yuan's manifest destiny - an irresistible by-product of the remarkable economic success of the People's Republic of China (PRC). But is such confidence warranted? Recent history has seen the emergence of other currencies that were also expected, at least for a while, to attain wide, growing cross-border use. These included the deutsche mark (DM), the Japanese yen, and the euro (successor to the DM). Yet in the end their internationalization reached an upper limit, short of expectations. Will history repeat itself? Or will the yuan prove exceptional, the currency that finally managed to keep ascending where others faltered? The aim of this paper is to see what lessons may be drawn from these earlier experiences for the anticipated internationalization of the yuan. Much can be learned from their stories - first, about what may drive the internationalization of a currency, and second, about what may ultimately set a limit to the process. The main message of the analysis is that the challenge of internationalization is formidable, involving demanding conditions. Can Beijing sustain its record of price stability and effective policy management? Can the country succeed in shifting its industrial and trade structure toward exports of more advanced differentiated products? Can the yuan's convertibility be broadened? Can domestic financial markets be adequately developed? Can the country's political institutions be trusted? Can geopolitical tensions be avoided? Contrary to predictions of the yuan's "inevitable" rise, success in all these respects is by no means guaranteed.
BASE
In: Review of international political economy, Band 21, Heft 5, S. 1017-1041
ISSN: 1466-4526
There has been a lot of debate lately about the shape of the international currency system. Increasingly, we are told, the world is moving toward a multicurrency system with several poles, implying that the system is becoming more competitive. Polarity, however, is a notoriously crude measure of the level of competition in any kind of system, economic or political. If analysis is to be at all accurate, it should take into account not only the number of poles in a system but also the inequalities among them -an alternative approach encompassed by the concept of concentration. In this paper we make use of the concept of concentration to provide a more accurate picture of the competitive structure of the currency system today. When taking account of concentration as well as polarity, our results suggest that the competitive structure of the system is little changed over a period stretching back more than two decades. Adapted from the source document.
This book is about power in a changing world economy. Though power is ubiquitous in the study of International Political Economy, the concept is underdeveloped in formal theoretical terms. This collection of essays analyses recent experience in East Asia to advance our theoretic understanding of state power in IPE. Over the last quarter century, no other region of the world has had a greater impact on the global distribution of economic resources and capabilities. China, with its ""peaceful rise, "" now stands as the second largest national economy on the face of the earth; South Korea and Taiw.
In: Review of international political economy, Band 21, Heft 5, S. 1017-1041
ISSN: 1466-4526
In: Review of international political economy, Band 19, Heft 4, S. 709-710
ISSN: 1466-4526
In: New political economy, Band 17, Heft 3, S. 361-372
ISSN: 1356-3467
In: Power in the 21st Century, S. 195-210