China's economic diplomacy and soft power strategy: internationalisation of the renminbi
| Project/Area Number |
25780126
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
International relations
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| Research Institution | Ritsumeikan Asia Pacific University |
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Principal Investigator |
VYAS Utpal 立命館アジア太平洋大学, アジア太平洋学部, 准教授 (10550337)
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| Project Period (FY) |
2013-04-01 – 2015-03-31
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| Project Status |
Completed (Fiscal Year 2014)
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| Budget Amount *help |
¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2014: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2013: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
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| Keywords | China / internationalization / RMB / international identity / development / soft power / international status / structural power / internationalisation / renminbi / power / policy / reserve currency / offshore trading / liberalisation |
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| Outline of Final Research Achievements |
After the global financial crisis which started in the USA in 2007, the pace of change in the shape of the international political economy accelerated with China’s relatively strong growth, increasing foreign currency reserves and increasing economic and political influence in the world. Within this context, the Chinese government decided to try to promote the international use of its national currency, the renminbi (RMB). This study therefore posed the following research questions (1) how and why is the Chinese government promoting the RMB at this time, (2) what outcomes is the Chinese government looking for, and (3) how is RMB promotion being viewed around the world? The study determined that there is substantial evidence to suggest that the Chinese government is not pursuing RMB internationalisation for purely economic reasons, but is pursuing it as part of its long-term goal to gain international political status and restore its great power identity.
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Report
(3 results)
Research Products
(3 results)
