The power of Yuan

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28 March 2011The introduction to the global economy of another significant currency – China's Renminbi (RMB) - has the potential to create a  financial market as large and as deep as that of Europe's. In this essay ANZ CEO Michael Smith OBE looks at the implications of the internationalisation of the RMB - and says Australia's position as proxy for Asian investment is bound to shrink. The task for Australia will be to build consensus around a forward-looking economic strategy to extend our economic boom.

From the essay:

"The demand for innovation in China gives Australia the opportunity to make good choices about our future... If we ignore the reality of change in China, Australia runs the risk of losing out on some of the most significant opportunities that could flow from our relationship with Asia."

Publication typeReport
Publisher TypeAPO Member, Think tank
CoverageAustralia, Asia and the Pacific
Permanent URLhttp://apo.org.au/node/24365
Views1490

Related Topics

China

Currency

International

Economics

Environment & Planning

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