The Strategic Research Of China’s International Financial Resources Gaining Under The Global Economic Governance

The traditional governance system of the global economy dominated by thedeveloped countries faces the challenges because of the diminishing marginal returnshappened in the U.S. dollar and the international financial system which are relativewith decline of U.S. hegemony, economic recession the Western developed countries.The rise of emerging market countries and the depth of participation in governance ofglobal economy let the system become to the multi-level governance from thehegemonic governance. China as a representative of emerging country and the world’ssecond largest economy has a chance to deeply involve the governance of globaleconomy and gets more international interests through a strong desire to participate, astrong comprehensive strength and development of the Group of Twenty. During thedeepening of economic globalization today, the number of international financialresources becomes an important index to measure a country’s internationalcompetitiveness. International financial resources consist of the basic core financialresources, the intermediate entity financial resources and the unitary functionalhigh-level financial resources. RMB is still in the primary stage of internationalization.We have a huge foreign exchange reserves but there is great potential risk. China’sposition in the international financial system, which is being converted to thedecision-makers, is not useful enough and the developed countries still dominate thesystem. The lack of pricing for commodities let China suffer a huge loss. In the future,under the opportunities provided by the governance of global economy, China’sefforts about international financial resources will focus on promoting theinternationalization of the RMB and maintaining the security foreign exchangereserves, actively participating in international financial organization’s affairs, anddeveloping the relationship with BRICS and emerging economies.