Context—The New Global Economy ? Post Bretton Woods "de facto" dollar standard ? Geo-economic/geopolitical shift ? Regional , bilateral and corporate integration ? Aftermath of 2007-09 financial crisis. Context – China ? Second largest economy in the world but rebalancing the growth model ? Deepening commercialization and market orientation of the financial system ? Key role for the PBC in monetary policy What role for the RMB? ? 1 + 4 model Recent developments – globalization of the Yuan ? Yuan bloc ? Essential conditions for the internationalization of the Yuan Conclusions |