The extraordinary turmoil of 2007 and 2008 has brought to the fore many issues and challenges, most of which will be with us for some time as we deal with what has become the deepest financial crisis since the 1930s.
It was not for nothing that the first renminbi clearing hub located outside Asia was established in Frankfurt. Since 2014, it has been possible to settle renminbi-denominated payments via the Frankfurt branch of the People's Bank of China.