Money will talk, sooner than later

Renminbi has the potential to create a seismic shift in the international monetary and financial arena

Evidence is emerging that international finance will take over from trade as the principal projector of China's global influence.

In a speech in Sydney in March, Philip Lowe, deputy governor of Australia's central bank, said: "The internationalization of the renminbi - and China's associated move toward a liberalized capital account and more flexible exchange-rate regime - has the potential to create a seismic shift in the international monetary and financial landscape."