The Impact of Global Financial Crisis on RMB Internationalization

摘要

Determinants of an international currency include: economic and trade size, financial development, confidence in currency, network externalities, historical inertia, and so on. Changes in indicators closely related to these factors show that, the impact of global financial crisis on the countries of major international currencies and China is different. With the global financial crisis, RMB internationalization faces more opportunities than challenges. The pace in RMB internationalization should be accelerated, to help RMB turn into one pole in the multi-polar monetary system.