The Redback Cometh: Renminbi Internationalization & What to do about it Economic Note No. 18 DIFC Economic Activity Survey Results 2010 Authors Dr. Nasser Saidi, Aathira Prasad and Sara Salomoni* DIFC Economics: Dr. Nasser Saidi E-mail:
[email protected] Tel: +971 4 362 2550 Aathira Prasad E-mail:
[email protected] Tel: +971 4 362 2478 Fahad Ali E-mail:
[email protected] Tel: +971 4 362 2421 For enquiries, please contact Dr. Nasser Saidi All Rights Reserved, December 2011 © * Sara Salomoni (
[email protected]) contributed to this Economic Note during her internship at the DIFC. Disclaimer: This paper should not be reported as representing the views of the DIFC or the Government of Dubai. The views expressed in this paper are those of the authors and do not necessarily represent those of the DIFC Authority or the Government of Dubai. This note is published to elicit comments and to promote further debate. DIFC Economic Activity Survey Results 2010 2 Table of Contents Executive Summary ................................................................................................................................ 1 China‟s Role in the Global Economy ....................................................................................................... 2 Renminbi as a Potential International Currency ...................................................................................... 6 De facto Renminbi internationalization .................................................................................................... 9