The development and challenges of RMB internationalization from 2008 to 2014

Autor: Ying-Ching Wang, 王盈青
Rok vydání: 2015
Druh dokumentu: 學位論文 ; thesis
Popis: 103
China has become the largest economy in the developing countries and its international trade status is rising, with high-speed foreign exchange reserves growth.Ironically, China decided to actively promote RMB internationalization strategy in the underdeveloped financial markets background.Therefore, the author''s aim is to find the significant experiences of the US dollar, Euro, yen in the international currency path, and grasping the international degree and the future trend of RMB. RMB internationalization, from the natural evolution of the "passive" surrounding stage into a government-led "active" regional and international stage, can be described as a start in 2009. In 2014, RMB is the fifth largest pay currency, the seventh largest reserve currency in the world. China government will use "One Belt And One Road" strategy, opening capital account control, joining the SDR, start the CIPS measures to strive to dominant right of currency, especially in the "Thirteenth five year plan" period (2016-2020). By overviewing currency international path of US dollar, Euro, yen, we could know that currency international process cannot get results overnight. China’s the international trade and finance role power is still limited and its capital account, interest rate and exchange rate are not in the completely liberal statue. RMB to achieve trade and capital project flow across border and embed global reserves currency system and bulk commodity trading system needs at least 20 years. As a result, US dollar still dominates the international financial structure in the long term. Thus, RMB internationalization will test the coordination of international economic systems and make an important impact on China’s "peaceful rise". It deserves to pay close attention.
Databáze: Networked Digital Library of Theses & Dissertations
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