Renminbi

51due论文代写网精选代写范文:“Renminbi”。这是一篇关于研究人民币国际化的文献综述。现如今，中国是世界第二大经济体，并且经济保持强劲增长；中国一直是世界上最受欢迎的投资国；中国金融体系一直保持稳定等等因素的存在，让人民币国际化成为可能，尽管现阶段人民币国际化的道路并不平坦还存在许多不确定性。

The world currency is one that used outside its home country. It is as the unity equivalent in the international commodity circulation. (Mundell, 466) Besides, the world currency has the functions-medium of exchange, store of value and unit of account. (Chen, 3) In the history river, the world currency becomes the tool of imperialist country to plunder resources and wealth from other developing countries. In the wide view, the world currency refers to dollar. However, in the narrow view, it refers to gold. As is known to all, dollar has been the world currency for many years. After the Second World War, America has built its own financial system and accelerated the pace of the dollar internationalism. In order to get more interests in the international trade, dollar was as the world currency instead of gold. This made America get more wealth in the international economic market. What is more, dollar influences the world finance. If dollar is unstable, the world finance will be disturbed to some degree. (Rogoff, 245) So dollar plays an important role in the international economic market. However, with the development of some powerful countries, the world currency has some changes. Due to the unstable dollar exchange rate, more currencies are required to be the new world currency. Among the currencies, ReMinBi(RMB) is the potential one which has attracted more attention from the world. (Dobson, 125)

As is known to all, China is now the second largest in the world in terms of economic size and trade volume. In particular, China as one Asian country is the most important partner to the other Asian countries. With the Chinese wide open strategy, China becomes a vital source of investment. Meanwhile, the rapid stable economic growth makes China play an important role in the global economy and financial system. What is more, the international financial transactions are gradually liberalized. (Chen, 2) All of these provide a good condition for RMB internationalism. In this review, we will explore the specific conditions which make RMB become a potential world currency.

According to Dobson, he refers that two questions decide RMB internationalism. One is whether the authorities would want to encourage its international use and the other is whether an economy with substantial party control could gain international acceptance for its currency. (124) Dobson analyzes the RMB internationalism from the two questions, and give some positive ideas about RMB internationalism in the following years. Cheung evaluates the international status of RMB, and analyzes the recent development of RMB in the global trade and exchange market. (1) He thinks whether RMB can be the world currency depends on the economic and political factors. Ma in his paper gives some analysis about the evolving regime and implications of RMB in the Asian financial and economic stability. (23-38) He thinks the Asian shared policy creates favorable conditions for regional monetary cooperation. Ito reviews the development of RMB and China economy. And meanwhile he points out the risk lying in the RMB internationalism. (249-276) Eichengreen highlights the challenges to property assessing the nature and degree of currency misalignment for RMB. (723-730) Lee in his paper explores the potential possibility that RMB will be an international currency. (45-51) He points out the challenges lying in the pace of RMB internationalism. Park reviews the RMB internationalism and analyzes the prospects and implications for economic integration in East Asia. (45-62) All the papers mentioned above refer to the RMB internationalism. As is known to all, the pace of RMB internationalism is full of challenges and chances. Most of authors above hold the positive attitude to the RMB internationalism.

To sum up, whether RMB can be the world currency depends many factors. From the papers mentioned above, we can get some brief conclusions. Firstly, the most important one is the economy. Chinese economy gives an important and powerful support for the RMB internationalism. Chinese economy has been the second largest in the world in terms of economic size and trade volume. What is more, the rapid and stable economic growth has been for long time. The Chinese government publishes many rules and laws to support the wide opening strategy. China has been the most popular investment region in the world. Moreover, in recent years, Chinese economy plays an important role in Asian economy. Chinese economy gives more activeness to Asian economy. And meanwhile, Chinese financial system keeps the economy stable and active for long time. It is also vital to the region financial system. In the view of Chinese economy, RMB has the potential possibility to be the world currency. Secondly, the Chinese politics is stable which guarantees the stable economy. The Communist Party leads Chinese people to build a powerful and wealthy country. The stable regime in long time gives more chances to the economic development. Besides, more open strategies are given to the economic development. In recent years, China has been the popular investment source. More investment items pour into China and they give more activeness to the economic development. The economic and political factors contribute to RMB internationalism in the future. However, considering the dollar in the international trade, many challenges are full of the pace of RMB internationalism. We can imagine that America will give more obstacles to stop RMB internationalism. It will keep the dollar place in the international economy. At the same time, dollar has been used in many countries for many years. The international trades are realized by dollar as the mean of payment. While RMB is in the initial pace and its wide acceptance faces much uncertainties. So RMB internationalism is hard to be realized in short term. -w

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