VYAS Utpal
   Department   Ritsumeikan Asia Pacific University  College of Asia Pacific Studies
   Position   Associate Professor
Language English
Publication Date 2017/04
Type Book(Chapter)
Title China’s financial power in Asia: strategic implications of RMB internationalization for regional relations (chapter in Rothman, Vyas, Sato eds, Regional Institutions, Geopolitics and Economics in the Asia Pacific: Evolving Interests and Strategies)
Contribution Type Single Work
Journal TypeAnother Country
Publisher Routledge
Volume, Issue, Page pp.46-58
Details Chinese government policy has been increasingly directed towards the establishment of China as a ‘great power’, and an important aspect of this is the promotion of its financial power, regionally and globally. The importance of the Chinese currency (RMB) is becoming increasingly obvious in Asia, and this has direct implications for China’s role in the region and neighbouring countries’ strategic relations. This chapter argues that although a successful expansion of RMB usage in Asia is still not certain, it may add to the challenges faced by the US and its regional allies in maintaining influence within East Asia.