RMB Will Become An International Reserve Currency.

< p > why after the financial crisis, the US financial market and the domestic economy suffered heavy losses, even the wages of employees could not be paid. The US dollar still maintained its value and settled, paid and stored in the international market.

An important reason is that the US dollar maintains its credibility and credibility throughout the world economy. Therefore, when China is carrying out its economic reform, it must continue to strengthen the credibility of the entire economic system and currency, which is what the RMB will become before it becomes a savings currency.

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P, a few years ago, when the world was in an economic crisis, the author met with the former president of Iceland. He told the writer that Iceland had been in deep economic crisis. He went to other European countries to try to persuade those countries to lend money to Iceland to tide over the difficulties, but no country was willing to help Iceland.

Then he came to China, and China did not lend to Iceland, but the Central Bank of the two countries signed an agreement on currency pactions, when China was the only country to lend a helping hand.

This move has greatly stimulated Iceland's economic recovery, and other European countries have slowly changed their minds and focused on how to help Iceland and other countries in crisis, thus enabling Europe to slowly recover from the economic slough.

Such stories are very representative. In the economic and financial systems, countries are linked.

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< p > when the financial system is in trouble and in crisis, several important currencies in the world, such as the US dollar, the euro and the yen, are all important factors. They will encounter their own difficulties and may cause great trouble to the world economy.

If the United States continues to carry out quantitative easing, there is a flood of liquidity around the world. After quantitative easing, there is a shortage of liquidity in the world.

Such measures can not be sustained and can not continue to take this road.

In order to move towards the global savings currency, the renminbi must strengthen its currency and strengthen its "a href=" http://www.91se91.com/news/index_c.asp "financial system < /a >.

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< p > at the same time, in Asia, more and more "a href=" http://www.91se91.com/news/index_c.asp "RMB" /a "pactions promote the development of Asian internal pactions.

The total volume of Asian intra state pactions accounts for 52%-53% of the total volume of pactions between Asian countries and other countries, which even exceeds the volume of intra EU pactions.

With the increasing vitality of Renminbi trading in Asia, the renminbi needs to become a more reliant financing currency.

If Asian countries use the US dollar offshore market for financing, they need to go to places like New York or Frankfurt. This is not an advantage. Especially in the early days, the EU is still in the sovereign debt crisis. This must make the RMB a more reliable financing arm for Asian countries.

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< p > > a href= "http://www.91se91.com/news/index_c.asp" > Asian economies < /a > every year there are many trade surpluses, a large part of which become dollar deposits, such savings can not be maximized, and if the renminbi becomes internal savings fund, it can bring more profits to Asia, thereby reducing the impact of the depreciation of the US dollar.

Now that several Central Asian banks have signed some monetary exchange agreements, this is a major move.

Singapore and even the United Kingdom want to become the center of Renminbi trading, which makes it easy and quick to issue bonds.

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During the Asian economic crisis of 1997 P, I was vice premier of Thailand. When I visited China, the Chinese government gave Thailand 1 billion yuan to support it.

China's support for Asian countries and its refusal to devalue the renminbi has kept Asia's economic stability stable.

Through this story, I think that the currency of a country becomes a world savings currency from anonymity, which needs a lot of economic tools to support. There are many risks in the process of RMB becoming the world's saving currency.

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RMB P is the leading role in Asia, and the change of RMB also affects other currencies. If RMB becomes a global savings currency, it needs the support and institutional support of the Chinese government. It needs more support from Asian countries, requires that we have more cooperation, and can see the future development trend in the process of reaching agreement, which is more conducive to helping the RMB establish credibility.

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