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2022-23 NPSIA Seminar Series – Gregory Thomas Chin : China’s Renminbi and Global Monetary Disorder

January 13, 2023 at 2:30 PM to 3:45 PM

Location:5320D Richcraft Hall
Audience:Alumni, Current Students, Staff and Faculty

Gregory Chin will present why it has become imperative for China to increase the global use of its currency, the Renminbi (RMB) amid the fracturing of the global liberal monetary order that has held since the end of the Second World War. The focus is on how China has pursued growing international use of its currency, as part of the shift toward a more multi-polar global currency system, and as the United States has relied increasingly on new forms of financial warfare over the last two decades, and the weaponization of the US dollar payment system and the US-centered global financial system. The main finding is that RMB internationalization has entered a key phase where pre-existing obstacles still have to be overcome, but where the gradual increases in the RMB’s global use are also being met by profound changes in the global monetary order.

Gregory T. Chin is an Associate Professor in the Department of Politics, York University (Canada). He is currently in residence at the London School of Economic and Political Science as the Mayling Birny Global Scholar. He is a Senior Fellow of the Foreign Policy Institute The Johns Hopkins University, Paul H. Nitze School of Advanced International Studies. He co-directs the Emerging Global Governance (EGG) Project with Global Policy journal. He has published widely on the political economy of China, Asia, BRICS and international money and finance. From 2000-2006, Chin served in the Government of Canada, Department of Foreign Affairs and International Trade, the Canadian International Development Agency, and the Canadian Embassy in Beijing.