Research On The Yuan Dynasty Paper Money System From The Perspective Of Financial Coordination

In recent years,with the continuous enhancement of our country's economic strength and the increasing international status,the internationalization of RMB has been incorporated into the national development strategic plan.The accession of RMB to SDR indicates that the internationalization of RMB has entered a new stage.However,the current period of the RMB system is not perfect,classification structure is not reasonable,the issuing mechanism is not flexible enough,the uncoordinated factors hinder the process of internationalization of the RMB to China continue to deepen reform and opening up has brought new challenges.Review the history,the paper money system of the Yuan Dynasty occupies an important position in the history of world currency development,many important thoughts,experiences,impacts and lessons have been produced in the process of system exploration,which will provide important inspiration for the reform of the system under the background of RMB internationalization.The issuance and circulation of banknotes based on the Song Dynasty and Jin Dynasty.In the context of the social background,the Yuan Dynasty implemented a wider and more complete system of paper money Which made China has become the international leader in currency system development.It has important significance in world financial history;at the same time,the development of the currency system of the Yuan Dynasty also brought severe inflation,increased the financial risk of the government.The financial risk become one of the most important factors of the collapse of yuan dynasty.In the past,scholars made much research on the banknote system in the Yuan Dynasty,but there was little research on the coordination mechanism behind the evolution of the banknote system.This paper uses the theory of financial coordination to analyze the coordination principle and influence behind the evolution of the banknote system in the Yuan Dynasty."Harmony" is a word derived from philosophy which is taken to avoid the instability.Later scholars introduced the theory of coordination to many disciplines,such as economics,management,social system theory and so on.The process of the evolution of the paper money system is essentially the process of financial coordination.This paper analyzes the evolution path of the Yuan Dynasty paper money system and the coordination mechanism behind it.It is found that the YuanDynasty paper currency system has a reasonable par structure,reliable reserve system and flexible circulation and circulation mechanism.The amount of paper money adapts to the scale of commodity trading.These factors jointly promote the coordinated evolution of the paper money system and then promote the rapid development of the whole economic and social system.The unreasonable structure function of the note coupon,the lack of restraint on national credit guarantee and the irrational relationship between the amount of paper money and commodity scale.These incongruous factors led to the collapse of the Yuan Dynasty paper money system.Through the research on paper currency system in Yuan Dynasty evolution and coordination mechanism,we can get some experience and lessons from the system,which will provide enlightenment for the reform of the RMB system.In the process of reform,we must achieve the coordination between structural system and total system,enhance the automatic stability of the RMB system and promote the internationalization of the RMB.