The recent global financial crisis has revealed great defects in the US dollar dominated international monetary system.In response,countries and international organizations have developed numerous proposals for reform...The recent global financial crisis has revealed great defects in the US dollar dominated international monetary system.In response,countries and international organizations have developed numerous proposals for reform of the system.With China's growing economic presence,the renminbi is gaining recognition and acceptance in international markets and is slowly beginning to play a significant role in trade settlement and offshore market development.Meanwhile,it is important to remain aware of the limitations of renminbi internationalization and the gaps that exist between it and other major world currencies.Once fully implemented,renminbi internationalization will result in it becoming a major currency on the world stage in approximately 15 years.展开更多
After a volatile year in which the RMB was under considerable depreciation pressures,the RMB exchange rate has regained its footing and has since moved below 7.3,an upper bound the People's Bank of China(PBOC)may ...After a volatile year in which the RMB was under considerable depreciation pressures,the RMB exchange rate has regained its footing and has since moved below 7.3,an upper bound the People's Bank of China(PBOC)may view consistent with China's macroeconomic fundamentals.展开更多
基金National Social Sciences Foundation(Approval No.10ZD&054)China Postdoctoral Science Foundation(Approval No.2012T50193)Beijing Higher Education Young Elite Teacher Project(Approval No.YETP0226)
文摘The recent global financial crisis has revealed great defects in the US dollar dominated international monetary system.In response,countries and international organizations have developed numerous proposals for reform of the system.With China's growing economic presence,the renminbi is gaining recognition and acceptance in international markets and is slowly beginning to play a significant role in trade settlement and offshore market development.Meanwhile,it is important to remain aware of the limitations of renminbi internationalization and the gaps that exist between it and other major world currencies.Once fully implemented,renminbi internationalization will result in it becoming a major currency on the world stage in approximately 15 years.
文摘After a volatile year in which the RMB was under considerable depreciation pressures,the RMB exchange rate has regained its footing and has since moved below 7.3,an upper bound the People's Bank of China(PBOC)may view consistent with China's macroeconomic fundamentals.
