Since 2015, China's RMB internationalization process has made significant progress, but compared with the US dollar, the degree of internationalization is still far behind. In the first half of 2020, in order to i...Since 2015, China's RMB internationalization process has made significant progress, but compared with the US dollar, the degree of internationalization is still far behind. In the first half of 2020, in order to improve the national economy, the Federal Reserve started unlimited quantitative easing and increased the fiscal deficit, which caused international investors to question the firmness of the value of the US dollar, and to some extent affected the dominant position of the US dollar in the international currency. Different control measures are adopted for different types of capital flows. For RMB exchange caused by trade, the exchange quota should be set according to the actual trade volume, which is also beneficial to the further deepening of China's international trade. Finally, for transnational financial speculative capital, it is necessary to strictly control and prevent malicious short selling of capital in and out of China's financial markets. In contrast, China's economic fundamentals are stable in the long run and good, and the possibility of economic rebound is high in the short run. The RMB should seize the comparative advantage with the US dollar and cooperate with various measures to improve the internationalization of the RMB.展开更多
文摘Since 2015, China's RMB internationalization process has made significant progress, but compared with the US dollar, the degree of internationalization is still far behind. In the first half of 2020, in order to improve the national economy, the Federal Reserve started unlimited quantitative easing and increased the fiscal deficit, which caused international investors to question the firmness of the value of the US dollar, and to some extent affected the dominant position of the US dollar in the international currency. Different control measures are adopted for different types of capital flows. For RMB exchange caused by trade, the exchange quota should be set according to the actual trade volume, which is also beneficial to the further deepening of China's international trade. Finally, for transnational financial speculative capital, it is necessary to strictly control and prevent malicious short selling of capital in and out of China's financial markets. In contrast, China's economic fundamentals are stable in the long run and good, and the possibility of economic rebound is high in the short run. The RMB should seize the comparative advantage with the US dollar and cooperate with various measures to improve the internationalization of the RMB.
