Among EME currencies, the Chinese renminbi seems to be the one most likely to achieve a significant role in the global system, partly in view of China’s position in the world economy, but also because of the interest the authorities of this country have shown in the internationalization of their currency, for instance through the gradual opening of its financial markets to foreign participation,  4  International Monetary Fund (2016): “World Economic Outlook”, October.
4  the renminbi´s inclusion in the SDR basket, and the negotiation of currency swap agreements with a significant number of countries. Nevertheless, a swift move of the renminbi’s role to rival some of the main AE currencies looks at this stage uncertain.