Thursday, November 12, 2015
ANBOUND: Paris Could Be the Agent to Strengthen RMB Adoption in Africa
ANBOUND
China could draw support from France's close relationship with the CFA franc zone countries to boost internationalization of RMB and strengthening the influence of RMB in Africa.
Anbound’s research team points out that although the trade between China and Africa is relatively active in Central Africa and East Africa, the internationalization of RMB in this region is relatively weak.
Following the closer cooperation between China and France to deepen the adoption of RMB, Paris could act as China’s financing agent in the cross border trade and investment between China, West Africa and East Africa. This will help China in boosting the adoption of RMB in Africa.