Traditional Culture Encyclopedia - Traditional stories - Internationalization and analysis of RMB
Internationalization and analysis of RMB
Basic introduction RMB internationalization refers to the process that RMB can cross national boundaries, circulate abroad and become an internationally recognized currency for pricing, settlement and reserve. Although the current overseas circulation of RMB does not mean that RMB has been internationalized, the expansion of overseas circulation of RMB will inevitably lead to the internationalization of RMB and make it a world currency.
the meaning of RMB internationalization includes three aspects: first, RMB cash enjoys a certain degree of circulation abroad; Second, and most importantly, financial products denominated in RMB have become investment tools of major international financial institutions, including the central bank. For this reason, the scale of financial markets denominated in RMB has been expanding. Third, it is necessary to achieve a certain proportion of transactions settled in RMB in international trade. This is a general standard to measure the internationalization of currency, including RMB, among which the last two points are the most important.
at present, the highest form of economic competition among countries is currency competition. If the substitution of RMB for other currencies is enhanced, it will not only change the distribution pattern of reserve currency and its related seigniorage benefits, but also have a far-reaching impact on the geopolitical pattern of western countries.
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