Open AccessA Research on the Belt and Road Initiatives and Strategies of RMB Internationalization
Author(s) -
Xiaoqing Lin,
Yifei Xiao,
Yuan Liang,
Xiaowen Zhang
Publication year - 2017
Publication title -
business and management research
Language(s) - English
Resource type - Journals
eISSN - 1927-601X
pISSN - 1927-6001
DOI - 10.5430/bmr.v6n1p13
Subject(s) - renminbi , internationalization , liberian dollar , china , international economics , exchange rate , currency , dominance (genetics) , business , reserve currency , prosperity , investment (military) , economics , international trade , finance , monetary economics , devaluation , economic growth , biochemistry , chemistry , politics , political science , law , gene
Some problems exist in current international monetary system, such as dollar dominance and frequent fluctuation of exchange rate, which are not conducive to the development of trade, investment and global economy. Financial crises break out frequently. So we should reform the international monetary system and create a multi-polar international monetary system to regulate dollar conduct by mutual competitions. RMB internationalization is not only favorable to the stability of the world's currency, but also good to China's own development. The Belt and Road Initiative has been bringing more opportunities for the internationalization of the RMB. The Belt and Road Initiative aims to strengthen economic cooperation between China and its neighboring countries and promotes the regional economic prosperity. This strategy provides a good opportunity for China to develop trade, increase investment and expand financial markets. So RMB should take advantage of this opportunity to improve the proportion of RMB trade settlement, increase the amount of RMB investment and financing and accelerate the circulation of RMB, and then steadily push forward the process of RMB internationalization under the premise of controlling risks.