Study On RMB Internationalization And The Way To Promote It Under The Perspective Of International Law

The topic about RMB internationalization have been raised more than l0years,but it became a hot issue is just several years ago.In recent years,Chinese government further promote the RMB internationalization,but we also need to keep cautious about it.For following reasons.Firstly,currency internationalization is a complex process.It's relate to economic,politic,culture and many other elements.Furthermore the Economic Globalization reach a very high level which will bring great challenges to RMB internationalization.Secondly,although China's economy keep growing in a high speed and became the world's second largest economy,China is still a developing country,Real GDP per capita is far away from developed countries.Finance market and legal system is not complete and such a developing country try for currency internationalization would be much harder.Thirdly,the international currency system was formed by developed country,whom got a lot of benefit from it.Now China is trying to challenge this system,and developed countries will strike back.We can see RMB internationalization will must be a complex mission.In this paper I will analyze the defects of Chinese economic system and sum up experience of the internationalization of other major currency,then try to put forward the way of RMB internationalization under the perspective of international law.