Introduction The 14th Five-Year Plan adopted this past March has reaffirmed the significan...

How US Banks Push the Caribbean Toward China – Jamestown – The Jamestown Foundation

Introduction The 14th Five-Year Plan adopted this past March has reaffirmed the significance of Renminbi (RMB) internationalization in China’s geopolitical ambitions (Gov.cn, March 13). Global RMB proliferation in cross-border trade would enhance China’s domestic financial security, which also makes it a key element of China’s “dual circulation” (双循环, shuang xunhuang) strategy for economic development (East Money, August 22). As Huang Qifan (黄奇帆), the former Chongqing mayor and renowned authority on Chinese financial policy, has said, “[the] dual circulation strategy will provide a strong opportunity and impetus for the further development of the BRI” (Sina, September 12, 2020). China’s financial policy …

 

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