On November 23, the Center for Economic Policy organized a book launch event to celebrate Professor Edwin LAI’s new book on “One Currency, Two Markets: China’s Attempt to Internationalize the Renminbi”. Professor Lai teaches in the Department of Economics and is an Associate Director for the Center for Economic Policy at HKUST. The event started with brief remarks by moderator Professor Albert PARK, Director of the Center for Economic Policy, and Professor Lai introduced his new book chapter by chapter. This was followed by a discussion where Professor Leonard CHENG, President and Chair Professor of Economics at Lingnan University, shared his thoughts on the book.
During the event, Professor Lai also explained six main ideas highlighted in the book, including the reason for internationalizing the RMB, China’s strategy of internationalizing the RMB, the importance of capital account liberalization, the importance of financial sector liberalization, the importance of the offshore RMB market, and the prospects of RMB internationalization. What’s more, Professor Cheng listed some features of the book and commented on different chapters. This was supported by key observations, including paying attention to national financial security, the phenomenon of fire sale in and after global financial crisis, and his thoughts on the future international monetary system.
Get your copy of “One Currency, Two Markets: China’s Attempt to Internationalize the Renminbi” by Professor Edwin Lai here.
