Renminbi Internationalization: Achievements, Prospects, and ChallengesMeet the next global currency: the Chinese renminbi, or the redback. Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter national role for its currency akin to the international role currently played by the U. S. dollar. Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's