Research On The Internationalization Strategy

With the deepening of economic globalization, dollar hegemony is graduallyweakening, while the rapid rise of emerging market economies, the strength of asingle sovereign currency-dominated international monetary system because of itsinherent instability in the world today has become increasingly unsuited requirementsof economic development. In particular, the spread of the financial crisis in2008worldwide more of the existing international monetary and financial system resultedin a greater impact. In order to improve the current instability of the global monetarysystem, reducing the devastating economic crisis, rebuild the international financialorder, to establish a diversified international monetary system has become a trend. Inrecent years, emerging economies on the world stage to play an increasinglyimportant role, more active strengthen multilateral cooperation and seeking to buildan international political and economic order and reform of the international monetarysystem in the international financial system and action continues to increase. Rubleinternationalization is in this context.This paper describes the ruble by international theoretical background andpractical significance, review the current situation and the existence of gaps in theinternational monetary system; and then specific to the case of the Russian economicdevelopment, elaborated ruble international macroeconomic fundamentals and themain implementation steps, from the ruble fully convertible, to promote the use oflocal currency in foreign trade settlement, particularly focuses on the prospects for theruble as a reserve currency in the CIS region; and through empirical analysis set forthRussia’s ruble devaluation crisis has exposed the structural problems facing theeconomy and to the adverse effects caused by the internationalization process, andfinally make a conclusion, elaborated in the financial sector in Russia and Its Lessonsof RMB internationalization.