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100 Years Chinese Communist Party Special “The International Political Economy of Renminbi Internationalization” SISP/MSP Seminar (Jan. 28, 2022, 12:10-13:20 hrs.)

◆◆◆100 Years of CPC ◆◆◆

Chinese Communist Party has just commemorated its 100th anniversary. GRIPS SISP/MSP has launched a series of lectures to think about its meaning. 


The National Graduate Institute for Policy Studies (GRIPS) is pleased to announce the following SISP/MSP Seminar.



Topic: The International Political Economy of Renminbi Internationalization


Speaker: Dr. CHEY Hyoung-kyu

Associate Professor of International Political Economy, 

National Graduate Institute for Policy Studies (GRIPS) 


Moderator: Dr. IWAMA Yoko

Director of Strategic Studies Program; Director of Maritime Safety and Security Policy Program; Director of Security and International Studies Program; Professor, National Graduate Institute for Policy Studies (GRIPS) 


Commentator: Dr. BRUMMER Matthew

Lecturer, Science, Technology and Innovation Policy (STI)

National Graduate Institute for Policy Studies (GRIPS)


Date: Friday, January 28, 2022, 12:10-13:20 hrs.


Venue: Online by Zoom


Language: English (without interpretation)


Admission: Free



Topic Summary:


Although the internationalization of the Chinese renminbi is an important international political event, most of the studies of it place their analytical focuses largely just on China itself, the issuer of the currency. In contrast, this research addresses the question of how foreign states have responded to the renminbi’s internationalization, during its initial phase through the 2010s, and thereby breaks new ground in exploring the international politics of currency internationalization. It builds a theoretical framework for analyzing a state’s policy toward renminbi internationalization, developing the key concept of reactive currency statecraft. It then applies this framework to the four select cases of the United Kingdom, Japan, South Korea and the United States. This study reveals that all four of these countries have deliberately utilized their policies related to renminbi internationalization as means of achieving their own foreign policy goals associated with China, goals that have been principally economic in some cases but political in others. Remarkably, the predominant mode of response to the renminbi’s internationalization has been accommodative. Even the United States and Japan—China’s chief geopolitical and also international currency rivals—have never attempted to actively suppress it. This research provides new insights to anyone concerned with the transformation of the world monetary order, while also contributing a valuable analysis of the international politics surrounding the rise of China.




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Speaker Profile:


CHEY Hyoung-kyu is Associate Professor of International Political Economy at GRIPS. He received his Ph.D. in International Relations from the London School of Economics and Political Science. He worked for four years as an Economist in the Economic Research Institute at the Bank of Korea (South Korea’s central bank) prior to joining GRIPS in 2011. He was a Japan Foundation Fellow, and has held visiting positions at various institutes including the University of Southern California, the University of Tokyo, National Chengchi University (Taiwan), the Institute for Far Eastern Studies (South Korea), and the Bank of Korea. His main research area is the international political economy of money and finance, with a focus on East Asia in particular. He is the author of two books: The International Political Economy of the Renminbi: Currency Internationalization and Reactive Currency Statecraft (Routledge, 2022) and International Harmonization of Financial Regulation? The Politics of Global Diffusion of the Basel Capital Accord (Routledge, 2014). He has published 17 peer-reviewed papers in major journals, including International Studies Review, New Political Economy, Regulation & Governance, Political Science Quarterly, Asian Survey, and The World Economy.


Date / Time Friday, January 28 12:10-13:20
SpeakerDr. CHEY Hyoung-kyu
TitleThe International Political Economy of Renminbi Internationalization
Venue Zoom
Fee Free
Language English

7-22-1 Roppongi, Minato-ku, Tokyo 106-8677

TEL : +81-(0)3-6439-6000     
FAX : +81-(0)3-6439-6010


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