The Study About US Dollar In International Currency System Legal Status And Regulations

In 2007 US's loan crisis initiates the whole world financial crisis caused the world economics to present the serious decline. In various countries' economy is under the serious impact in the situation, international from all walks of life in abundance discusses causes this crisis's secret prime culprit, present causes this crisis's important attribute take US dollar as the leading international currency system. In present international currency system, because US dollar is at the unique position, the US may formulate the related monetary policy according to our country state of business. But other countries can not but share the responsibility for the US, thus causes the crisis to have the diffusibility and the global character. Although the American finance Tsunami's starting point and the flashpoint hotspot are in the US, but this crisis is not the US financial system's crisis, but presented the crisis by US dollar international currency system primarily.In the present international currency system, US dollar currency has the unique status, which is playing the vital role in the international currency system, thus has had the important influence to world economics' development. How does US dollar currency affect the world economics, this needs conducts the research to the currency legal attribute and US dollar achievement international currency characteristic. In present's world economics, the US uses US dollar depreciation to achieve frequently enhances our country economic potentiality, weakens other state economy strength the goal. Why the US will carry on the depreciation securely to US dollar, mainly because US dollar depreciation not only may bring the huge economic interest for the US, moreover US dollar depreciation will bring the consequence has not been related the rule will carry on the restraint. the first chapter will conduct the research.In the international currency system, US dollar international currency legal status's vicissitude and the Bretton woods system and the Jamaican system have the close relationship, and "the International Monetary Fund Agreement" has made the explicit stipulation to US dollar legal status. How does " The International Monetary Fund Agreement" carry on the stipulation to US dollar legal status, what are these stipulations to US dollar legal status's influence. as well as the euro produces, what kind of challenge will US dollar legal status receive. The second chapter will conduct the research.From the second chapter of analysis, we know US dollar is the leading international currency system in the present international currency system. if we want to reulate US dollar,we must inquire about that which flaws does US dollar have for the leading international currency system, only then the true revelation has the inferior goods coin system's flaw, The present international currency system's flaw mainly has: First, in take US dollar as in leading international currency system, because US dollar has the unique status, constituted US dollar in fact to other state money sovereignty limit and infringement, but " The International Monetary Fund Agreement " as representative's international currency legal rules has not the corresponding liability clause. Second, because the International Monetary Fund exists the flaw, which caused the International Monetary Fund to become US's megaphone in fact. Thus US and US dollar has the unfair competitive advantage, the third chapter will research the contents.The scholar and the expert has the different position, the developing country and developed country also existence benefit gambling about how to reform the international currency system,. Through the comparison which advocated to the divergent interest community, the author put forward the reform international currency system's proposal: First, the establishment keeps in balance the international law rule which US dollar distributes excessively. Second, the reform for International Monetary Fund, and strengthens the International Monetary Fund's function. Third, strengthens the function of SDR. Fourth, impels the international reserves currency the multiplication. Fifth, regarding China, promotes the Renminbi internationalization positively regarding attenuated US dollar, reduces the adverse effect which US dollar hegemony brings to have the positive significance. These are the fourth chapter of research contents.the author hoped that there is a more profound understanding to the legal status of US dollar in international currency system through this research, as well as how to carry on the regulations to US dollar, how to establish the fair reasonable international currency system certainly to provide profits from the significance.