Bound Volume Number
XI
Degree Type
Honors Capstone Project
Date of Submission
Spring 5-5-2015
Capstone Advisor
Prof. Tom Barkley
Honors Reader
Prof. Daniel McDowell
Capstone Major
Finance
Capstone College
Management
Audio/Visual Component
no
Capstone Prize Winner
no
Won Capstone Funding
no
Honors Categories
Social Sciences
Subject Categories
Finance and Financial Management
Abstract
This paper looks at the renminbi as a trade settlement currency in the countries that make up the Association of Southeast Asian Nations. The paper first looks at the trade picture in ASEAN, and how the old trade dynamics with the United States were broken down during the 1997 Asian financial crisis. In the ensuing power vacuum, China started to replace the United States as a trade partner, growing today to become even larger of a trade partner than the U.S ever was. The following section explores the role of the growth of the renminbi in use as a trade settlement currency in ASEAN, using the U.S. dollar as a foil.
By looking at Chinese policy in liberalizing the renminbi, this paper also draws conclusions about whether or not there’s room for the renminbi to grow in ASEAN in use as a trade settlement currency. In concluding, this paper will look at the broader picture and whether or not the Chinese renminbi has the potential to become a currency as widely used and held as major currencies like the Japanese yen, British pound sterling, or Euro.
Recommended Citation
Cheung, Brian, "The Rising Power of the Renminbi as a Trade Currency in the ASEAN Countries" (2015). Honors Capstone Projects - All. 917.
https://surface.syr.edu/honors_capstone/917
Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.
