Research Of RMB Regionalization In China-ASEAN Free Trade Area

The impact of financial crisis of2008is enormous. The world economy suffered a major loss. Defects of the existing international monetary system are also exposed. The existing international monetary system built up on the basis of "Bretton Woods" and Jamaica Agreement lacks the necessary institutional constraints. Stability of macroeconomic and security of financial assets cannot be properly maintained, thus countries requiring a fair, just and multipolar international monetary system. In recent years, China’s GDP is rising, the economy maintained steady and rapid growth and international competitiveness continuously enhances. China has become an important force in the world pattern.Firstly, the paper uses the theoretical and practical method of combining combed RMB regionalization theory. Combination of objective realities, the article analyzes the regionalization of the RMB under the framework of the China ASEAN Free Trade Area. The first paper describes the development of trade to promote the theory of RMB regionalization. Secondly, after regionalization China-ASEAN trade trends, the paper analysis feasibility of the RMB regionalization in CAFTA by qualitative and quantitative methods on. Finally, according to the current international economic situation, the article discusses the RMB regionalization may encounter some of the challenges the implementation of CAFTA.The innovation of this paper tries to do optimal currency area endogenous test of China-ASEAN Free Trade Area countries. In addition, the article analysis the impact of ASEAN Free Trade Area network building to China. The inadequacies of the paper are that some statistical data is not available due to the limited of capacity. In addition, in the last chapter the proposed strategy operability has yet to be tested.