The Anchor Currency Status Of RMB In The East Asian Monetory Cooperation

In recent years, the United States actively promote the "Trans-Pacific Strategic Economic Partnership Agreement" (TPP) tries to help them further the Asia-Pacific region, thus weakening the Chinese in this area growing influence. In view of this, China urgently needs a leading regional economic organization in which to respond to this challenge, and monetary cooperation in East Asia is undoubtedly China to safeguard their trade and economic security, a powerful weapon against international risks.But now the East Asian monetary cooperation still remains at the primary level, in the power of cooperation to a higher level on slightly less, which is an important reason for the lack of an internal anchor currency support. European monetary integration process in a landmark approach is to put the German mark as the anchor currency of the euro area, which is the key currency as a regional monetary anchor, which gives monetary cooperation in East Asia, an important revelation. The aftermath of the global financial crisis, China’s strong economic base, open and stable degree of internationalization of the yuan currency gradually become one of the core of the East Asian currency, the yuan currency in East Asia already has become the anchor of the potential and strength. In this region, relative to key competitor yen, yuan a more stable level of inflation and exchange rate fluctuations, both internally and externally are very stable currency. In addition, the East Asian currencies in the currency to maintain a high degree of correlation with the yuan continues to increase, the reputation of the RMB rising in the East Asian region and was recognized by a considerable number of countries (regions).This paper analyzes the background and significance of the renminbi as anchor currency in East Asia are facing, research methods, after review of the literature research ideas and research methods proposed in this paper. Theoretical study of regional currency renminbi become the anchor currency in East Asia anchor position guiding perspective, on the basis of the actual conditions in East Asia to further explore the establishment of a regional monetary anchor, constraints, and by drawing on the experience of how to build the euro area to draw East Asia core issue monetary anchor. The rapid development of China’s economic level, adequate foreign exchange reserves, deepening the international level, such as the creation of a monetary anchor a solid position in renminbi external foundation, which itself has a strong renminbi stable renminbi already has become an anchor currency in East Asia feasibility. Therefore, China should make full use of the advantages in terms of trade, industry and other propulsion RMB regionalization process, and continuously improve the development of the depth of the domestic financial market, an important relationship RMB regionalization process in the face of proper handling and laying anchor currency for the process of regionalization of RMB flat road.