China at the Crossroad:Creating the Asian Single Currency or Internationalizing RMB

Zhang Yuyan ()
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Zhang Yuyan: Institute of World Economics and Politics, Chinese Academy of Social Sciences

Romanian Journal of Economics, 2009, vol. 29, issue 2(38), 26-33

Abstract: I am going to concentrate my concern on the discussion of the diversification of the existing world currency system, because in the view of the majority of Chinese economists it is closely linked to the future directions and destinations of China’s domestic financial reform, to China’s policies regarding Asia’s financial collaborations, and to the positioning of RMB in the world in the coming years. It is almost commonly accepted among Chinese economists that China is on the way to form its international financial strategies that contain three objectives: properly re-visiting the Bretton Woods system in today’s context, actively pushing foreward the region-wide financial cooperation of an Asian single currency as a core, and gradually internalizing RMB.

Keywords: international financial crisis; financial system reform; RMB inter¬nationalization; exchange rate (search for similar items in EconPapers)
JEL-codes: F3 F31 G29 (search for similar items in EconPapers)
Date: 2009
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