Research On The Internationality Of RMB: View On The Reform Of The Internatinal Monetary System

The global financial crisis suffered a serious setback in major economies, which caused the international community deep reflected on many defects of the single currency sovereign in which U.S. dollar as the core of international monetary system. In the post-crisis era, comprehensive national strength of various countries changed a lot. The trend of diversified international development economic forces must prompt diversified international monetary competition that the international monetary system will face new adjustments. In addition, the rise of new economic entities creates favorable conditions to the current reform of the international monetary system. What is more, the challenge of the U.S. monetary hegemony increases the possibility of reform of the international monetary system.Since the reform and opening to the outside world, China's comprehensive national strength gradually strengthen, with the rise of great powers must be the international currency. Through discussing the relationship between the history of the international monetary system and process of the major international currency, demonstrating the interrelationship between the financial crisis and the adjustment of the international monetary system, analyzing the possible models and the feasibility of the international monetary system, the paper concludes that the RMB internationalization is an evolving dynamic process. Viewing on the reform of the international monetary system, the diversification of a new pattern of competition in the international monetary and reconstruction of the international monetary system are rare historical opportunity for the RMB internationalization. At the same time, RMB internationalization is the driving force of the international monetary system reform.In new situation of the reform of the international monetary system, investigate the changes in RMB internationalization constraints, concluding the reform attitudes and market selection of the adjustment of the international monetary, the external environment on the RMB internationalization and international status of China and RMB. Grasp the historical opportunity of the reform of the international monetary system, further analysis the major constraints of RMB internationalization, and bring forward the development strategy of RMB internationalization under the China's participation in global governance. The conclusion of the paper will move forward in improving RMB internationalization theory and practice system.