A Study On The "New Tiffany 's Puzzle" In The Internationalization Of RMB And The Countermeasures

The internationalization of RMB is of great significance for China and its international monetary system, but some problems during the process of RMB internationalization will also arise. This paper mainly studies the "new triffin dilemma" of RMB internationalization. "New triffin dilemma" refers to the contradiction between one country’s currency supply and currency stability when its currency has become one international currency.Based on the background research at home and abroad and present situation of RMB internationalization, lessons from the process of dollar and yen internationalization and combine the theoretical analysis with empirical analysis, this paper has studied the "new triffin dilemma" of RMB internationalization, found out there would be different forms of "new triffin dilemma" in the different stages of RMB internationalization and provided the corresponding policy recommendations with seigniorage revenues added.