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All Journal Intermestic: Journal of International Studies
Erlangga Arbi Prakoso
Universitas Indonesia
Humanities Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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The Internationalization of Renminbi Erlangga Arbi Prakoso; Makmur Keliat; Fredy Buhama Lumban Tobing
Intermestic: Journal of International Studies Vol 4 No 1 (2019)
Publisher : Departemen Hubungan Internasional, Fakultas Ilmu Sosial dan Ilmu Politik, Universitas Padjadjaran

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (380.058 KB) | DOI: 10.24198/intermestic.v4n1.5

Abstract

After global financial crisis 2008, the position of the US dollar began to be debated and led to the narrative of the internationalization of renminbi. This literature review discusses how the literatures has evolved regarding internationalization of renminbi. Based on the taxonomy method, this literature review finds three major themes: China’s interest, implementation process, and external reactions. Based on those three themes, this literature review argues that internationalization of renminbi occurs because the character of international relations tends to be competitive due to power relations. This condition triggered the adjustment of Chinese interests according to Chinese characteristics using offshore renminbi centers. Besides using the supply-side approach as the dominant approach, this literature review identifies an increase in discussion after 2009 and also finds approach and empirical gap that use demand-side approach of international actors. This paper contributes to the study of international political economy related to state and market logic.
Co-Authors Lumban Tobing, Fredy Buhama Makmur Keliat