Joachim Nagel, member of the executive board of the Deutsche Bundesbank, says the strong trading position between Germany and China has generated enough momentum for setting up an offshore renminbi-trading center in Frankfurt.
"I believe the renminbi will develop into a global reserve currency.
There is intense competition in the financial world for being a part of the renminbi trading system," Nagel says.
Speech by Dr Joachim Nagel, Member of the Executive Board of the Deutsche Bundesbank, at the Chamber of Industry and Commerce (IHK) Conference on the "Internationalisation of the Renminbi - Opportunities for Frankfurt", Frankfurt am Main, 3 July 2013.Joachim Nagel: The internationalisation of the renminbi
Joachim Nagel: The internationalisation of the renminbi
Browse ZoomInfo's company directory. Our company profiles include corporate background information, detailed descriptions, and links to comprehensive employee profiles with verified contact information.