THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS
The global financial crisis of 2008-2009 and the subsequent political and economic consequences of the modern world have led to the permanent state of global turbulence, driving participants of the global financial and economic environment to look for ways out of the current realities, including the...
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Government of the Russian Federation, Financial University
2018-04-01
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Series: | Мир новой экономики |
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Online Access: | https://wne.fa.ru/jour/article/view/17 |
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doaj-8bc9603588d04494816f9698067fcaee2021-07-28T14:05:16ZrusGovernment of the Russian Federation, Financial University Мир новой экономики2220-64692220-78722018-04-0102566117THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUSELENA ANATOL’EVNA Zvonova0Financial UniversityThe global financial crisis of 2008-2009 and the subsequent political and economic consequences of the modern world have led to the permanent state of global turbulence, driving participants of the global financial and economic environment to look for ways out of the current realities, including the way in the direction of creating alternatives to US dollar in foreign exchange - the so-called reserve currency. The article disputes that the transition of currency to the status of a reserve one is a long, multi-step process. And an important step in this direction is the internationalization of said national currency. The author identifies the factors influencing the process of currency internationalization. Also, the article discusses in detail the measures being taken by China to convert its currency into one of the world’s currencies, and states that one should not lose sight of the fact that the process of the Yuan internationalization has both positive and negative effects. To conclude the topic the author presents possible scenarios for the reform of the world monetary system (WMS).https://wne.fa.ru/jour/article/view/17reserve currencythe yuanthe internationalization of the national currencythe financial market |
collection |
DOAJ |
language |
Russian |
format |
Article |
sources |
DOAJ |
author |
ELENA ANATOL’EVNA Zvonova |
spellingShingle |
ELENA ANATOL’EVNA Zvonova THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS Мир новой экономики reserve currency the yuan the internationalization of the national currency the financial market |
author_facet |
ELENA ANATOL’EVNA Zvonova |
author_sort |
ELENA ANATOL’EVNA Zvonova |
title |
THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS |
title_short |
THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS |
title_full |
THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS |
title_fullStr |
THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS |
title_full_unstemmed |
THE PHENOMENON OF YUAN INTERNATIONALIZATION AS A STAGE TO RESERVE CURRENCY STATUS |
title_sort |
phenomenon of yuan internationalization as a stage to reserve currency status |
publisher |
Government of the Russian Federation, Financial University |
series |
Мир новой экономики |
issn |
2220-6469 2220-7872 |
publishDate |
2018-04-01 |
description |
The global financial crisis of 2008-2009 and the subsequent political and economic consequences of the modern world have led to the permanent state of global turbulence, driving participants of the global financial and economic environment to look for ways out of the current realities, including the way in the direction of creating alternatives to US dollar in foreign exchange - the so-called reserve currency. The article disputes that the transition of currency to the status of a reserve one is a long, multi-step process. And an important step in this direction is the internationalization of said national currency. The author identifies the factors influencing the process of currency internationalization. Also, the article discusses in detail the measures being taken by China to convert its currency into one of the world’s currencies, and states that one should not lose sight of the fact that the process of the Yuan internationalization has both positive and negative effects. To conclude the topic the author presents possible scenarios for the reform of the world monetary system (WMS). |
topic |
reserve currency the yuan the internationalization of the national currency the financial market |
url |
https://wne.fa.ru/jour/article/view/17 |
work_keys_str_mv |
AT elenaanatolevnazvonova thephenomenonofyuaninternationalizationasastagetoreservecurrencystatus AT elenaanatolevnazvonova phenomenonofyuaninternationalizationasastagetoreservecurrencystatus |
_version_ |
1721268390658572288 |