Geopolitical Risks and Unconventional RMB Internationalization: A Reappraisal

2023 is a year of changeRadosevic, Dubravko andRepublic of Croatia challenge for China. What is crucial here is a return of geopolitical and geoeconomic risks, which will be highly important for policy makers while also having significant academic implications in analyzing policy measures in volatile macroeconomic trends. As a result, RMBRMB internationalization faces an important turning point in 2023. The report of the 20th National Congress of Chinese Communist Party (CPC)CPC calls for “promot[ing] the RMBRMB internationalization in an orderly manner.” As ChinaChina enters a new stage of development, it faces a high level of uncertainty in the geopolitical environment and has to make strategic adjustments in a timely and prudent manner as it works to reach its goal of accelerating RMB internationalization to raise market attention. We present the arguments in favor of the view that an unconventional strategy for the internationalization of the RMBRMB is the best policy option for China.