Internationalization of China's currency is inevitable and it should prepare for the systematic financial risks that will arise

Just a few years ago, it would have been difficult to imagine that the global use of the renminbi would spread so fast. However, today we can see the situation has changed greatly.

In 2011, China and its trade partners conducted cross-border renminbi trade settlements valued at 2.58 trillion yuan ($410 billion), more than 4 times the 2010 total, and covering nearly 10 percent of the China's total trade.