Comments by Chalongphob Sussangkarn, on The Economics of RMB Internationalization

Chalongphob Sussangkarn: This paper focuses on the internationalization of the RMB—the progress that has been made, the benefits and costs, and the factors necessary to make the process of RMB internationalization smooth and sustainable in the future. The paper is informative and addresses an important issue, one that will become increasingly important over time. China is already the world's largest trading nation (in terms of value of exports plus imports). Over the next two decades, China's GDP size in current market value will also likely surpass that of the United States. Given this, it would be very odd if the RMB does not become a more and more important international currency. If China continues to rely on the U.S. dollar as the major currency denomination for trade and investment, it will continue to be exposed to U.S. policy and problems. We have already seen problems that acute U.S. dollar shortage...