The Research On Path And Effect Of RMB Internationalization

The dollar-centric monetary system was doubled by the community because ofthe financial crisis of2008, and the dollar is the main reason caused the globalfinancial imbalances. However, the U.S. did not make up for it brought the hurt to theworld economy, but continue to use the dollar currency as the international center toprint the large-scale money, so that it can shift the its crisis to other countries. Then,the European debt crisis harms the contemporary economy again. It not only disruptsits own stability, but also affected the international status of the euro.In two financial crises, China insisted on not devaluing the RMB, and maintains arelatively stable financial system, which made tremendous contributions for the worldto get rid of the financial crisis and further stabilize the international status of RMB.But the crisis had also brought to the Chinese economy many effect, and it madeChina have to face huge foreign exchange losses, so that their export enterprises faceexchange rate risk. At this time, China should seize the opportunity to vigorouslypromote the process of internationalization of the RMB, which will not only help ourcountry out of the financial crisis and enhance China’s comprehensive economicstrength, but also improve the international monetary system which does owncontribution to the economic stability of the entire world.Firstly, this paper introduces the narrative of the international monetary theory. Itgrasps the meaning, phase characteristics of international currency from the macroconditions by relatively detailed theoretical study. Secondly, it analyzes the main pathof the currency internationalization and the referencing meaning of theinternationalization. Although the international environment and the development ofthe countries are different, our country still needs careful study to avoid disadvantages.Thirdly, it describes the current situation of RMB. According to the characteristics ofthis stage, it describes the possible trends of RMB. Finally, it elaborates RMBinternationalization effect problem by both positive and negative side. RMB internationalization is an established target. Although the road is long, eventually itcan reach. Therefore, we must first see the problems that may meet in the future, andproposed countermeasures to make our international road even smoother.