The Research On RMB Regionalization

Today's global economic development is of diversification and liberalization, the RMB regionalization has become one of currency economic phenomenon in the academic field attracted by more attentions. Phenomenon of RMB regionalization is, for the Chinese people, to establish a concrete expression of awareness of economic opening up, and at the same time, China's economic development also reinvigorates the world economy. However, the RMB regionalization is the concentrated reflection of the contradictions of China's economy, that is, China's economic internal and external contradictions constrain and promote the regionalization of RMB. Regionalization of RMB in reality is a huge social scientific topic, so we need to seize and reveal the main reason and deeper contradictions, which have important practical and theoretical value on Chinese and the world economy.The process of China's reform and opening up is used as the main line of this study. I select and make use of modern Western economics associated with today's home economics theory, use empirical analysis, normative analysis, comparative analysis of such practices, while fully basing on the beneficial ideas of domestic and foreign academic research results. I focus on explaining the theoretical issues of the RMB regionalization in system, such as the status, extent, causes, mechanisms, and inhibiting factors. I also make wholly analysis of its trends and coping strategies. Full-text consists of six components, its structure and main contents are as following:Part I is the introductory, it mainly introduce the significance of the paper's topic, literature review, research methods and logical framework, etc.Part II is chapter one, is the basis of this study described as the theory chapter. Based on the actual characteristics of RMB regionalization, defining the concepts and hierarchy of this article related to the RMB regionalization. In order to further clarify the theoretical studies of paradigm, I elaborated a number of key monetary theories from a purely theoretical point of the West monetary theory, introduced the theory of socialist market economy with Chinese characteristics and the theory of China's economic contradictions, and analyzed the evolution of the current international monetary assessment process.Partâ…¢is chapter two, is true forensic analysis articles. Reference to a large number of relevant research information and data, I do a more comprehensive analysis on the status of the RMB regionalization, including its history, spatial distribution characteristics of different forms, the quantity in circulation within the region. Finally I use Optimum Currency Areas-standard model and the associated number projections to measure and evaluate the RMB regionalization level in reality. At present, the region has not yet met the conditions of Optimum Currency Areas, RMB spatial distribution and the currency function in different regions are obviously different, RMB internationalization index is very low, is still in the early regionalization of the early stages.Part IV is Chapter Three, is an important part of the body, the theoretical and empirical analysis on RMB rationalization's reason. Beyond national borders, RMB to be regional currency is determined by the currency's nature. The RMB regionalization phenomenon generated basing on domestic economic momentum, the surrounding economic momentum, as well as the dynamic mechanisms between China and its neighboring countries and regions economic and trade cooperation.Part V is Chapter Four. The theoretical and empirical analysis of domestic and international constraints of RMB regionalization is also a key part of the body. RMB regionalization faces with domestic and international inhibiting factors. Chinese domestic suppression includes China not out of the primary stage of socialism, the national economy of non-trunk status and self-development defects, the impact of centralized open economy special contradiction and the damage to international economic credit of counterfeit goods. International suppression includes the international boycott of the United States and Europe, the lack of cross-strait relation stability, an obstacle of monetary cooperation in East Asia, the Japanese yen checks and balances, neighboring countries prefabricated conduct, the underground cross-border market, and it's neighboring on the black market, and so on. In this chapter, I focus on the use of Chinese economic theory, institutional economics and international economics theory to analyze RMB regionalization inhabitation with a more comprehensive, in-depth and systematic interpretation. In particular, I take the theory of economic contradictions of China's unique analytical methods to inductively analyze the institutional foundation for the underground economy existence of domestic and its inhibitory effect on the RMB regionalization. Then, flexibly use monetary philosophy, economic philosophy, sociology discuss in depth RMB regionalization inhibition caused by economic problems, monetary issues, social issues, cultural issues.Partâ…¥is Chapter Five, is a macro-theoretical prediction and response articles. From domestic economic expectations and the East Asian monetary cooperation and the international financial situation, RMB regionalization is a long-term must-be trend, we should promote RMB regionalization with domestic economic development, resolve a variety of constraints with concrete and effective coping strategies, and seize the favorable opportunities to accelerate the progress of reform and opening up.In all, the breakthrough on the research method is the most innovating place in this work. Furthermore, the special angle of view and emphases are different from the relative study results, and it is also the important innovation in this project. RMB regionalization itself is a complicated and difficult problem to study, so the overcome its difficulty is the discovering process of innovation and the corresponding academic view from research is much more foresighted.