Eswar Prasad on the History of the Renminbi

The video discusses the history of currency, focusing on China's role in international finance. It highlights China's efforts to promote the RMB as a major international currency despite not having fully open financial markets. The video also addresses China's economic challenges, including debt and market volatility, and examines market perceptions of China's growth and its global economic impact.

What historical event marked the beginning of paper currency?

• The Industrial Revolution

• The 7th century in China

• The American Revolution

• The Renaissance

What is a significant step China is taking to increase the RMB's international influence?

• Opening new trade routes

• Developing its own payment system

• Increasing tariffs on imports

• Adopting the Euro

How is China attempting to influence the international financial system?

• By reducing its population

• By increasing its military presence

• Through the promotion of the RMB

• By adopting Western economic models

What is a major concern for China's economy in the medium term?

• Short-term growth

• Medium-term growth risks

• Immediate financial collapse

• Lack of natural resources

Why are markets currently less concerned about China's economy?

• The global economy is unaffected by China

• China has no debt issues

• Indicators of economic growth have stabilized

• China's economy is shrinking