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Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar.

Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing...

This book contributes to the theoretical and empirical literature on Asian regionalism, with a focus on the innovations needed to reform the current institutional architecture in Asia. After reviewing the key issues and challenges related to the political economy of Asia s economic cooperation and integration, the book discusses various aspects of regionalism from political and economic perspectives. It looks at the rationale for regional collective action and reviews the trend of economic integration with a focus on the implications of the global financial crisis. In addition to reviewing...

This book contributes to the theoretical and empirical literature on Asian regionalism, with a focus on the innovations needed to reform the current institutional architecture in Asia. After reviewing the key issues and challenges related to the political economy of Asia s economic cooperation and integration, the book discusses various aspects of regionalism from political and economic perspectives. It looks at the rationale for regional collective action and reviews the trend of economic integration with a focus on the implications of the global financial crisis. In addition to reviewing...

In this collaboration between the Brookings Institution and the Asian Development Bank Institute, eminent international economists examine the increased influence of Asian nations in the governance of global economic affairs, from the changing role of the G-20 to the reform of multilateral organizations such as the International Monetary Fund.

Established in the aftermath of the Asian financial crisis at the ministerial level, the G-20 has served as a high-level platform for discussing economic analyses and policy responses since 1999. During the current global financial crisis, however,...