The Comparison Of The Main Monetary Competitive Position In The Current International Monetary System

Since the financial crisis in2008. The USA implements the quantitative easing monetary policy; and pass on the financial crisis to other countries in the word, which exposes the current shortcomings of the current international monetary system, so the call for reform of the international monetary system is more and more. Though the discussion of the international monetary system reform has a long history, scholars have put forward various reforms, and the world needs a fair, orderly and inclusive international economic and financial order, but the reform of the international monetary system depends on the political power and economic power. So we have to ask where is the future of the international monetary system? The current dollar-dominated system also can walk far? What is the trend of the development of the international monetary system? All of these need a clear understanding and scientific evaluation of the current international monetary competitive landscape.This paper is divided into six parts altogether. Overall this paper is divided into two modules both theory and empirical. The third chapter and fourth chapter mainly study the evolution of the international currency competition from two different angles of history and logic inspects, which points out that the multiple currency competition appears with the emergence of economic diversification, at the same time, monetary competition conforms to the law of development of free markets, and to a certain extent it can realize the balance of the international monetary supply. Specific content as follows:The first part is introduction which introduces the research background and the significance of this article, makes the research problem and the framework clear, and briefly expounds the innovations and deficiencies of this article. The second part introduces the defining the key concepts and the related literature are reviewed.The third part describes the historical evolution of the international monetary system of monetary competition process, and summarizes the evolution law of competition of the international monetary system, it points out that the economic status is the most important factors that influence the international monetary competitive position, and the multi-polarization of economy leads to the international reserve diversification, so the diversification of monetary competition will continue to develop to a more balanced direction.The fourth part mainly analyzes multiple international monetary competitive necessity from the interests of the international currency and stability.Fifth part analyzes the main international monetary competitive position including dollar, euro. Japanese yen, the pound and the yuan by using the Comprehensive Fuzzy analysis method and constructing a scientific index system.Chapter vi is for the conclusion, and summarizes the full thesis.Through the study of this article, you can see that there are many factors determine the competitive position of a currency, economic and political power is a fundamental impetus in the evolution of the international monetary competitive position. Due to the political deadlock of the current international monetary system reform and many reforms lack of realistic possibility, the monetary competition is inevitable, at the same time, competition pattern of the international monetary constraints on the supply of the international monetary and breaks the dollar monopoly. Although supply will exist some kind of disordered competition, but also achieve the international monetary supply amount adjustable, maintains the stability of the international currency. By the disorderly competition, it is the international monetary supply towards equilibrium process, therefore, the future trend of the international monetary system is a diversified international monetary competitive supply.About currency trend of competitive position, the dollar cannot shake competition dominant position short-term, and due to the influence of European debt crisis, the falling economic competitiveness euro is still under a lot of uncertainty, overall yen and sterling fluctuated to a certain degree of competitiveness, and play a bigger international monetary effects much less likely, but because of its growing economic power and the continuous improvement of the financial markets and institutions and policies, the future of RMB has broad prospects for development, but still faces major challenges. Therefore adjusting the structure of our country’s economy, therefore, perfecting our financial system, and putting efforts to implement the internationalisation of the renminbi, accords with the fundamental interests of our country.