An Analysis Of China's Currency Swap Agreements

This thesis is trying to analyze the characteristics and conditions of China's bilateral currency swap agreements with other countries,and their influence on the internationalization of the Chinese currency RMB. This thesis agrues that all China's currency swap agreements have the following features:currency trading for the demand of "crisis", "functional" cross-border settlement as a benchmark,international payments as the goal of "offshore",neighboring countries as the impetus of "regionalization" and financial reform as the goal of "politicalized". China signed currency swap agreements with other countries under the condition of the stability of the multilateral economic and trade relations,convergence of demands for financial integration,strong international reserves as collateral,and consistene monetary policy as the goal. This thesis also argues that China's currency swap agreements lay foundation for the RMB internationalization process, and have for reaching impacts,both economically and politically,on the decline of the U.S. dollar hegemonic system.