Research on the Legal Nature of Sovereign Currency in the Process of RMB Internationalization

DOI

10.2991/assehr.k.220401.198How to use a DOI?

Keywords

Sovereign currency; The legal nature of currency; Permanent interest-free national debt; RMB internationalization

Abstract

The theoretical research on RMB internationalization is still incomplete. Under the new Bretton Woods system, there is no international agreement to give a single currency a superior status, and each currency may rise to international currency through currency competition. The lack of international reserve function of the leading currency is the urgency of reforming the international monetary system. The super-sovereign reserve currency is not the main direction of the reform of the international monetary system. International currency is the main way, in this process, the RMB must have a place. Since the financial crisis, the trend of loose monetary policies in developed countries has not fundamentally overturned the previous theoretical judgment on the premise of currency internationalization. The gap between RMB and some international currencies in performing basic monetary functions is rapidly narrowing, and internationalization is facing new opportunities.

Copyright

© 2022 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Jinze Li
PY  - 2022
DA  - 2022/04/08
TI  - Research on the Legal Nature of Sovereign Currency in the Process of RMB Internationalization
BT  - Proceedings of the 2022 International Conference on Social Sciences and Humanities and Arts (SSHA 2022)
PB  - Atlantis Press
SP  - 1036
EP  - 1040
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.220401.198
DO  - 10.2991/assehr.k.220401.198
ID  - Li2022
ER  -