The analysis about the internationalization of RMB under "the Belt and Road (B&R)"initiative --based on comparing and learning from international experience as reference
Available Online October 2017.
- https://doi.org/10.2991/isbcd-17.2017.19How to use a DOI?
- The internationalization of RMB, international experience, style analysis of route
- Learning from history shows that the currency internationalization of a country need to have strong economic strength, perfect financial system, open capital projects, timely exchange rate system, free foreign capital and other necessary conditions. The internationalization of RMB, however, is facing quite a few issues such as unbalanced development of trade, not fully opened capital projects, the lack of breadth and depth for financial market, which means the internationalization of RMB have not had the basic condition of traditional currency internationalization yet. The establishment of ADB and "the Belt and Road (B&R)" initiative create favorable conditions for RMB to play valuation, payment and storage functions in the region, and the choice of international development path of RMB will determine whether China can seize the opportunity to further promote the process of internationalization of RMB. This paper argues that only the external circulation mechanism and the internal economic environment can be combined to build a good RMB circulation path and promote the internationalization of RMB. In addition, the RMB internationalization cannot blindly pursue the speed, but should be gradual, planned, wise to move forward.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Qing Ge PY - 2017/10 DA - 2017/10 TI - The analysis about the internationalization of RMB under "the Belt and Road (B&R)"initiative --based on comparing and learning from international experience as reference BT - 2nd International Symposium on Business Corporation and Development in South-East and South Asia under B&R Initiative (ISBCD 2017) PB - Atlantis Press SP - 92 EP - 98 SN - 2352-5428 UR - https://doi.org/10.2991/isbcd-17.2017.19 DO - https://doi.org/10.2991/isbcd-17.2017.19 ID - Ge2017/10 ER -