Hong Kong Economy Braces for Impact of Renminbi Internationalization
The article discusses the impact of China's currency, the Renminbi (RMB), becoming more widely used internationally. It looks at how this could affect Hong Kong's economy, as Hong Kong has a close relationship with China. The researchers explore the potential benefits and risks of the RMB becoming more global, and how Hong Kong can position itself to take advantage of this change. They suggest that China needs to carefully manage the process to minimize risks, and that cities like Shanghai and Hong Kong could help with this internationalization due to their strong financial systems.