The Bottleneck Analysis Of RMB Internationalization

In recent years, China’s total amounts of import and export and foreign reserve has been ranked first in the world, and with the continued ascension of the growth of the Chinese economy and comprehensive national strength, RMB’s status on the international market has also been improved. The financial crisis in2008, the original the international monetary system, with the dollar as the center, has been seriously questioned and RMB’s internationalization has received special attention. However, the internationalization of RMB have bottleneck in a series of micro, macro and external level, which seriously restricts the process of internationalization of the RMB, so it was first priority to discover and break through the choke point of the internationalization of RMB.Valuation currency, reserve currency and medias currency are the main functions of international currency, and the influencing factors analysis is an important basis for the research on general conditions of currency internationalization. The internationalization of RMB realistic condition has the certain particularity, and in the amount aspect, the advantage conditions are more than the disadvantage, and in the structure aspect, the disadvantage conditions are more than the advantage conditions. Due to the same bottleneck factors may inhibit a variety of popularization of international currency functions, so the analysis on the internationalization of RMB choke point is mainly from the three micro, macro and external aspects. Among these, the study of the financial development level in China is the priority among priorities, including the specific analysis in the banking system, and the interest rate or financial market regulation in exchange rate marketization and its capital projects. Currency internationalization is on a country’s comprehensive national strength test, not only to the economic strength, but also from the political resistance, such as the international political struggle and inertia dollar to RMB internationalization of the blocking effect. According to the analysis of the choke point suggestions which targeted on the internationalization of RMB were put forward. These suggestion, including the selection of two "three steps to walk" the path of globalization and internationalization of regional function and the corresponding concrete measures, alleviating the current China’s foreign exchange reserves too much pressure, effectively solved the internal and external China’s economic imbalances, and shared international seigniorage revenue. With the result, they increased world economic relations in the right position, and laid a solid foundation on China’s economic better and faster development...