The Limits of RMB Internationalization

RMB internationalization is one of the most important issues for China’s economy.Owing to the real factors affecting it,however,its development will be slower than media speculation can envisage.There is an exaggerated perception of RMB internationalization when considered according to percentage growth statistics,because calculations of them start from extremely low levels.For example,the proportion of RMB payments in the U.S.in April 2014 rose 100percent compared to a year earlier.This sounds spectacular,until taking into account that the rise constituted