Currently, these economies are estimated to represent nearly 60 percent of world GDP, and their rates of growth are projected to remain significantly higher than those in  3  the advanced economies (AEs),4 which points to a continued upward trend in their participation in the global economy.
With this in mind, it would seem reasonable to expect emerging market currencies to play a more important role in the composition of international reserve assets. However, economic size of the issuing country is only one, and not necessarily the most important, determinant of a currency’s internationalization.