Research On The Effect Of Financial Crisis To RMB Internationalization

As the international financial crisis further, the world economic growth is slowing. The international monetary system changes slowly. The value of dollar has been influenced. This case has many effects on the internationalization of RMB and Chinese economy.The international financial crisis gave an opportunity to the internationalization of RMB.At the same time, it also brought a series of challenges. Many experts and scholars think that the opportunities of RMB are more than challenges. The voice of RMB internationalization is higher and higher.This paper which is based on the international financial crisis researches the problem of RMB internationalization. It has a total of six chapters. The specific details are as follows:The first part is introduction. It mainly includes the background and significance of research, literature review, the main research content, the innovation and the insufficiency. The second part is theoretical definition and the analysis of the condition of monetary internationalization. In this part we analyses the theory and conditions of monetary internationalization. The third part is the analysis of experiences of monetary internationalization. We discussed the dollar, yen and euro. According to these three pieces of money, we analyze the experience referred. We also discussed the changes of the international monetary system. It can bring the opportunity to the internationalization of RMB. The fourth part is the analysis of the condition of RMB internationalization.In this part we make a concrete analysis about RMB. We conclude that the condition of RMB internationalization is not enough. We should be not anxious at this time. We must step by step. The fifth part is the focus of this paper and analyzes the latest process, the effect to RMB internationalization of United States financial crisis and European sovereign debt crisis and the facing problems of RMB. In this part we use a large number of data to analyze the opportunities and challenges of RMB facing. The sixth part combining the fifth part’s analysis puts forward some substantial suggestions, including promoting RMB settlement of cross-border trade, the regional monetary cooperation, strengthening the construction of financial center and China’s capital-account liberalization.The analysis methods of this paper mainly include comparative analysis, experience sum-up method. We summarize the experiences of monetary internationalization, comparative differences of currencies. The innovation of this paper is that we study the specific influence of the financial crisis and European sovereign debt crisis to RMB. But because of the influence of European sovereign debt crisis is not deep, the influence to RMB is not obvious, so this part will just do a simple introduction.Through this article we conclude the opportunities of RMB more than challenges. China should actively promote the development of RMB internationalization. But the required conditions of RMB internationalization have not completely and the problems we faced are still very difficult, so we should not be eager to promote the internationalization of RMB. We should be gradual to promote the development of RMB’s internationalization.