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The document discusses the role of the eurodollar market in international banking, emphasizing that it primarily facilitates intermediation among non-US residents rather than financing the US current account. It suggests that the offshore renminbi market may evolve similarly, serving as a conduit for non-Chinese residents in the future. The analysis also highlights the significant scale of eurodollar banking, noting its fluctuating importance over time and its functions in various types of transactions.

Author

Jinfeng Ge

Language

EN