RMB Cross-Border Settlement Into The "Fast Lane"

< p > the internationalization of any currency is a reflection of the strength of its own country. "The degree of internationalization of currency depends directly on the comprehensive national strength of currency countries, which requires that the country is in the leading position internationally in terms of politics, economy and military affairs." Zhao Qingming said. < /p >
P, before World War II, the pound was the world's largest international currency. Then Britain was the world's strongest. After World War II, the United States became the world's superpower, and the dollar replaced the pound as the number one international currency. Statistics show that at the end of the Second World War, gold in the United States accounted for more than 75% of the total official gold reserves of the world at that time. Almost all the gold in the world came to the United States through war. As the main currency of the European Union, the euro is second only to the US dollar. < /p >
< p > > a href= "http:// www.91se91.com/news/index_c.asp" > Zhao Qingming < /a > thinks that power is not due to the size of the state, but the scale is only a support, the key lies in its own economic strength. "Japanese TV, cars and electronic products almost covered the global market in those days, and the yen was in a strong position in international trade and international investment." < /p >
At present, the circulation of RMB in the world relies mainly on export trade. < p > Because our country is strict in supervising the financial market, some foreign capital gains the appreciation income through the overseas RMB market investment. However, the RMB needs two-way floating and stable exchange rate trend. The unilateral reserve of RMB outside China is meaningless. Therefore, only if RMB gets the leading position in the three international monetary systems of world trade, global investment and international reserve, can we really achieve "a href=" http:// www.91se91.com/news/index_c.asp "internationalization" /a. < /p >
"P", "the internationalization of RMB, the challenge to China's monetary policy is greater than the possible benefits. What does the opening of capital account mean? What does the deficit mean? These are major problems that need to be solved. Cao Yuanzheng said. < /p >
< p > although a href= "http:// www.91se91.com/news/index_c.asp" > RMB < /a > has accelerated the process of cross-border settlement, but the renminbi is not the universal currency of the world, and it is not an international investment currency. "To become an international currency depends on when China will become a superpower. It will take a long time." Zhao Qingming said. < /p >
From 1940 to 1945 after the Second World War, Britain's comprehensive strength has been surpassed by the United States, but Britain is not reconciled to it. The pound still occupies a strong market leading position. P "As a latecomer, if he wants to join the ranks of international currencies, he will not easily surrender his monetary position." Zhao Qingming said that the renminbi is far from this stage, and it is too early to talk about threatening the global hegemony of the US dollar. < /p >
< p > Guo Tianyong believes that the biggest challenge for RMB to become an international currency is not in the foreign market, but in its own reform. There are still controls on the renminbi, which requires further economic reform. The financial market will be perfected without guaranteeing its own economy. < /p >
"P", "the future strong renminbi will not be able to take the place of the US dollar." It is problematic to expose the single currency system in the US dollar centered international monetary system. The single currency will bring systemic risk, so the trend of global currency diversification will emerge, which will also bring new opportunities for RMB internationalization. Cao Yuanzheng said. < /p >
Cao Yuanzheng P's view of the US dollar's single hegemony is also verified by Jim Rogers, a famous international investor and finance professor. As early as in 2008, Rodgers once said that in the past 200 years, elected politicians in the United States had brought the US $10 trillion in treasury bonds. A large number of US dollars are printed on the US dollar, and the US dollar has been depreciated continuously due to the excessive issuance of banknotes. < /p >
< p > in Cao Yuanzheng's view, the future development of the renminbi can not be single currency but should be one yuan in the multi currency system. "The size of the renminbi in the future depends on the comprehensive strength, including the economy, the share of the international trade, the central bank policy and so on." < /p >