Research On The RMB Internationalization In The Context Of The Financial Crisis

The current international financial crisis brings opportunities to RMB internationalization; this article will discuss the hot issues. This paper analyzes the needs for internationalization of the RMB, and the good opportunity that the financial crisis provided RMB internationalization. Today, China's economic strength is already quite powerful, but the international status of the RMB Yuan is still very low. China should take advantage of this opportunity to let the RMB go abroad, to the world, and improve the degree of internationalization of the RMB. It will contribute to the good development of the Chinese economy.The paper is based on the theoretical studies at home and abroad, analyzing the needs for the internationalization of RMB under the current context. And it also analyzes the status, the costs and the benefits of internationalization of the RMB, with qualitative and quantitative analysis methods. Then it compares the pattern of the three major internationalization currencies, and makes the strategy choice for RMB finally. My conclusions are:(1) RMB internationalization is necessary; (2) The current financial crisis provides a good opportunity to RMB internationalization; (3) The degree of internationalization of RMB is still very low, we need continue to make efforts; (4) The benefits of RMB internationalization is more than the costs; (5) The basic way to achieve RMB internationalization is letting RMB convertibility.This article contains seven chapters. First, introduce the problem of the RMB internationalization; second, summarize and discuss the literature; third, analyze the needs and the opportunities for internationalization of the RMB Yuan; fourth, analyze the degree of RMB internationalization at this moment by building an international index; fifth, do a cost-benefit analysis and know the benefits are bigger than the costs; then, learn from the three major ways leading to international currencies and make the choice for RMB; lastly, sum up the full-text and give a outlook of the RMB internationalization under the current condition.