论信用维护与人民币的国际化——来自美元的启示

On Credit Maintenance and the Internationalization of RMB:Inspiration from the US Dollar

美元是后发国家劣势货币国际化成功的范例。基于黄金价值维持信用稳定,用国家财政经济实力背书,依托黄金输入强化信用准备,以担当树立国际信用声誉,主导主权信用评级的话语权,美元依靠信用奠定国际竞争力,建立货币国际化的价值信用。同时,通过美国货币发行制度改革,完善美国中央银行体系建设,建设国际清算与流通体制,形成美元国际化的制度信誉,向国外延伸美国金融体制影响。美元国际化是市场选择和美国主动作为的结果。因此,要推动人民币国际化,必须尊重金融发展的规律,稳步推进、顺势主动有为;树立人民币的国际信用;建设内外联动的金融体制。

The US dollar is a paradigm of the success of the internationalization of a disadvantageous currency of a late-developing country.The US maintains its credit stability based on the value of gold,endorses its currency by national fiscal and economic strength,strengthens credit preparation relying on the input of gold,builds its international credit reputation by acting actively,and dominates the discourse power of sovereign credit rating.Thus,the US dollar establishes its international competitiveness by virtue of credit and builds credit value for its internationalization.Meanwhile,the US reforms the issuance system of its currency,improves the construction of its central bank system,and builds the system for international clearing and circulation,thereby forming the reputation of system for the internationalization of the US dollar and extending the influence of American financial system abroad.The internationalization of the US dollar is the result of the selection of the market and the active acting of America.Therefore,we must respect the law of financial development,make steady progress and take the imitative when necessary,establish the international credit of RMB,and construct an internal-external integrated financial system,so as to promote the internationalization of RMB.