Photo: Paul Morigi/Flickr
Zhongxia Jin, executive director for China at the International Monetary Fund (IMF), will discuss China’s financial development and the changing international role of its currency Tuesday, Nov. 7, at Duke University.
The talk, which is free and open to the public, takes place from 1-2:30 p.m. in the Rhodes Conference Room, Sanford 223, at the Sanford School of Public Policy. Parking is available in the Science Drive Visitor Lot.
The introduction of the renminbi as a world reserve currency in 2016 has paved the way for China’s currency to become fully internationalized.
“China is the biggest development story of our lifetime,’” said Indermit Gill, director of the Duke Center for International Development (DCID). “Last year, China held about a third of global foreign exchange reserves and accounted for a third of global GDP growth. But while 64 percent of global foreign exchange reserves are denominated in dollars, this is just 2 percent for the renminbi. Even the crisis-ridden euro has 10 times the share of China’s currency.”
“Few people are better positioned than Zhongxia Jin to tell us why all this is about to change and to discuss the implications for China’s financial sector and future path of globalization.”
The talk is the first seminar in the Rethinking Development seminar series and is sponsored by the Duke Center for International Development (DCID) at the Sanford School of Public Policy and the Duke Center for International and Global Studies (DUCIGS).
“The Rethinking Development Series gives the Duke community a front-row seat to the debate around the cutting-edge issues in international development,” says Judith Kelley, senior associate dean at the Sanford School. “Our community will benefit greatly from hearing Dr. Jin provide the inside view of how China is rethinking its development strategy and what that means for the rest of the world.”
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