At the Korea-China summit about 10 days ago, we realized once again how quickly the Chinese's
renminbi is gaining force as a global currency in international finance.
In fact, according to a new study from the Institute of International Finance, the use
of the Chinese yuan more than doubled over the past year.
During the summit talks earlier this month, the two leaders decided on establishing a
direct won-yuan trading market -- let's take an in-depth look.
We're joined live in the studio by our regular contributor, Dr. Kim Byoung-joo.
Dr. Kim, Korea is just the latest entry into a rather long list of China's direct currency
settlement partners -- which first began with Hong Kong?
Where does the Chinese currency
stand
now
in the process
of becoming an international currency?
What should Beijing do to further boost its currency
as a global force in international trade finance?
What about Korea?
How
should Korea prepare for the emergence of
China's renminbi as
one of world's
key currencies?