Research on the Internationalization Path of RMB based on the Analysis of Peripheral Circulation
DOI:
https://doi.org/10.54097/hbem.v9i.9268Keywords:
Internationalization of RMB; Peripheral Circulation; The Belt and Road Initiative; Monetary Policy.Abstract
The internationalization of RMB is of great significance to China's financial development and the reform of the international monetary system, and it is the inevitable result of the evolution of the world economic structure. The internationalization of RMB is the inevitable result of China's economic development and the reflection of China's international competitiveness. The internationalization of RMB will help China to become a world economic power. The circulation around RMB is only the initial stage of currency internationalization. Currency internationalization requires strict conditions and must bear the price of giving up the independence of domestic monetary policy. The "the belt and road initiative (B&R)" initiative promotes China enterprises to enter the global market and increases the opportunities for RMB capital export. Some progress has been made in the internationalization of RMB, which has been recognized by the international community. Based on the significance of currency internationalization, this paper expounds the influence of RMB internationalization on China, and further studies the mode and strategy choice of RMB internationalization on the basis of analyzing the circulation path around RMB.
Downloads
References
Sha W. Steady and prudent promotion of RMB internationalization: target positioning and strategy optimization [J]. International Business Research, 2022, 43(4):13.
Zhang M, Zhang B. The Boom and Bust of the RMB's Internationalization: A Perspective from Cross-Border Arbitrage: Boom and Bust of RMB's Internationalization[J]. Asian Economic Policy Review, 2017, 12(2):237-253.
Ho K Y, Shi Y, Zhang Z. Does news matter in China's foreign exchange market? Chinese RMB volatility and public information arrivals[J]. International Review of Economics & Finance, 2017, 52(NOV.):302-321.
Shen B, Shen J. Research on some issues of RMB internationalization [J]. Financial Forum, 2021, 26(12):5.
Su Y, Jiang M, Liu H. Study on the relationship between short-term capital flow, RMB internationalization and exchange rate changes [J]. Economic and Management Review, 2018, 34(2):10.
Han L. The popular mode of capital account system reform is not suitable for RMB internationalization [J]. French Business Research, 2018, 35(1):11.
Xu S, Pan F, Zeng B, et al. Study on the Geospatial Pattern of RMB Internationalization [J]. Economic Geography, 2019, 39(8):11.
Zhang M, Chen Q. After the epidemic, RMB internationalization faces new opportunities [J]. Contemporary financiers, 2020(5):4.
Guo F, Ding J. Research on the interaction between RMB internationalization, exchange rate and cross-border capital flows [J]. Contemporary Economic Science, 2023, 45(2):12.
Yang R. Calculation of the "double cycle" degree of RMB internationalization: model and demonstration [J]. Economist, 2021(9):11.
Ma D, Luo Y, Zhang Y. The impact of RMB internationalization on China's financial risks [J]. Financial Forum, 2020, 25(3):12.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
