| This article mainly discusses the gradually internationalization process of yen since1964, and has compared with all kinds of plannings on Renminbi internationalizationpath, summarizes and discusses in turn about trade settlement path, the path of offshorefinance, capital output, etc,and their category and direction of the existing research.Aftergeneralizing the theoretical basis and specific expression of existing researches,the articlemakes comparison of the process of yen internationalization and Renminbiinternationalization from two aspects-politic pushing path and economic affecting factors,by teasing and summarizing the currency internationalization process of the twocountries, and analyze the influence factors of the Japanese yen and Renminbiinternationalization using measurement means. And discuss under current environmentalsituation, what lessons the Renminbi internationalization can learn from yeninternationalization process, how Renminbi can compromise the widely use ininternational foreign exchange reserves and valuation system on the premise ofmaintaining stability and steady development in the foreign trade.The yen internationalization has a politic pushing path of "trade settlementâ†'offshorefinanceâ†'capital outputâ†'financial opening up", the current stage of the Renminbiinternationalization has a high degree of comparability with the first two stages. At thesame time, the Japanese yen and the Renminbi internationalization has a highly similarityon the importance of the various influence factors and utility level. Through comparisonanalysis of the two can also tell that currency internationalization process of a country ismore the inflection of its social economy developing level and its comprehensivenational strength. relative to the concrete pushing measures of the fiscal and monetaryauthorities, the development of the real economy, especially the ratio of export trade, canplay a more effective role. |
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