The Significance Of The Belt And Road Initiative On RMB Internationalization

The Belt And Road Initiative and Strategy for Internationalizing Chinese Rmb are China’s great strategy in the 21st century.These two strategies are in line with China’s national interests,which provide strong support for emerging countries and serve the global interests.These two strategies also improve the current world economic and political order and the international monetary system,and demonstrated the sense of responsibility and responsibility of the emerging powers.The Belt And Road Initiative,while promoting active trade in the Eurasian continent,also lead to an active currency,and the circulation of commodities is bound to boost the outflow of RMB,thus increasing the foreign reserves of RMB.At the same time,the use of investment and the purchase of RMB bonds allow the Offshore RMB to return to the domestic market,thus creating an international circulation of RMB.This process continuously strengthens the pricing and settlement and investment function of RMB,and deepens the process of RMB internationalization.Therefore,The Belt And Road Initiative deepens the RMB internationalization development plan,promotes the RMB gradually realize its international monetary function,and set up an important development platform for the RMB to play an international monetary function,which creates a historical opportunity for RMB internationalization and has important influence on the development of RMB internationalization.Based on the factors and economic path of currency internationalization,the paper studies the significance of The Belt And Road Initiative on RMB internationalization by using GMM model and quantitative economic data after the Subprime Mortgage Crisis.While drawing lessons from the Marshall Plan,the paper from the economic and political level analyzes the differences and similarities between The Marshall plan and The Belt And Road Initiative,and from the four perspectives of economic base,marketing support,exchange rate stability and financial environment analyzes the promoting effect of the the Marshall plan on dollar Internationalization.Finally,from the perspective of enhancing regional economic integration to promote the internationalization of domestic currency,and on the four aspects of economic base,marketing support,exchange rate stability and financial environment,the paper puts forward the feasible suggestion.