The RMB Internationalization and the Reform of the International Monetary System

Gao Haihong ()
Additional contact information
Gao Haihong: Institute of World Economics and Politics, Chinese Academy of Social Sciences

Global Economic Observer, 2017, vol. 5, issue 1

Abstract: The RMB internationalization is one of the major Chinese financial strategies in the aftermath of the global financial crisis. It is driven by an increasing importance of China in the global economy, as well as by its efforts to reform the international monetary system. The paper examines to what extent the RMB is used internationally and outlines the major steps taken from the policy point of view. The Chinese government reaffirms its decision on financial opening and on domestic financial reform, being committed to make the RMB fully convertible by 2020. The author concludes that such forward-looking policy steps, along with the RMB flexible exchange rate, will reshape the Chinese economy and its role within the world economy.

Keywords: RMB internationalization; international monetary system; SDR reform; capital account opening; domestic financial market; offshore RMB market (search for similar items in EconPapers)
Date: 2017-06
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.globeco.ro/wp-content/uploads/vol/split ... vol5_no1_art_014.pdf First version, 2017 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntugeo:vol5-iss1-17-113

Access Statistics for this article

Global Economic Observer is currently edited by Serghei Margulescu and Simona Moagar-Poladian

More articles in Global Economic Observer from "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences Contact information at EDIRC., Institute for World Economy of the Romanian Academy
Bibliographic data for series maintained by Stefan Ciucu ( this e-mail address is bad, please contact ).