Contemporary International Monetary Pattern Characteristics And Development Trend

With the acceleration of economic globalization, the economic interdependence and mutual influence between countries is deepening. Currency is becoming an important factor of contemporary international power, its effect in the international relationship is obviously strengthened, and it becomes a political power or strategic power as the traditional sea right and land right, but much more important. In a world which is dominated by a few currencies, without knowing these currencies, you can not evaluate these countries' economic power and the over all national strength. So, it is necessary to do some research on the characteristics of international monetary pattern and its develop trends, RMB and East Asia's regional currency's developing trends.In this thesis, we research the characteristics of the international monetary pattern and its developing trends dated after the world warⅡ. There are 5 chapters.The first one is an introduction in which I discuss the necessity of researching of the international monetary pattern, introduce the current researches on the status quo, and bring in the concept international monetary pattern (IMP).In the second chapter, I analyze the IMP under the Breton Woods Systems. At that time, as the Soviet Union and other countries in the Eastern Europe chose not to join in the Breton Woods Systems, the IMP is actually only covered the Capitalist world. The United States surpassed the Great Britain and became the most powerful country in the world. Base on its strong economic power, the U.S Dollar became the dominate currency in the world.In the third chapter, we analyze the IMF of 70's, 80's decades of last century. Along with other countries got their economy restored, the U. S Dollar could no longer dominate the IMP alone. The German and Japanese economic growth upgraded their international political and economic status, accordingly, the German Mark and Japanese Yen's positions had been strengthened. The IMP had emerged in the very strong and weak points. In the strong point, there are three currencies, one (Dollar) was very strong, and the other two (Mark and Yen) were weaker.In the fourth chapter, we discuss the IMP since 90's decades last century. As the Euro was born in the end of the 90's decade, we divide this period into 2 parts by making the birth of Euro the dividing line. At the first phase, the IMP didn't change much with the last decade, its prominent feature is that IMP became a pattern which covered the whole world, because the collapse of the Berlin Wall, drastic changes in Eastern Europe, a growing number of post-communist countries sought to join the International Monetary Fund, more Eastern European countries joined the international monetary system. The second part begins at the birth of Euro till now. Euro is the first currency in the world which is capable competing with U. S Dollar. In this short period, the IMP can not have major changes, it is still polarization. Euro replaces Germany Mark's position. The Euro and U. S Dollar highly compete with each other. In order to give rational analysis of Dollar and Euro's competitiveness, I used the SPSS. I analyzed the data from 2004 to 2006 by Factor Analysis Method; concluding that the Euro is much more competitive than Dollar. In the long run, will the three dominate the world or just the two; I answered the question in the next chapter.First of all, the economy of United States and Euro Zone surpassed Japan and other developed countries. In this competition, the result can only be that the Dollar and Euro is equivalent to each other and both dominate the world for a time. Asia is an important political and economic region, its necessary to develop its own regional currency. But now the levels of economic development are uneven among Asian countries, and most countries have strong senses of sovereignty and historical contradictions, it is unlikely to develop an Asian common currency. Asia needs a key currency. As one of the biggest country, China should take some responsibilities. RMB must be international developed. In addition, I also discussed the possibility of African monetary integration. Although there are the West African Monetary Union and the Central African Monetary Union, given the disparity between the level of economic development, poverty in most countries, the financial extremely underdeveloped, I do not conclude that the development of a common African currency is possible.