Research On Marx’s World Currency Theory And Its Contemporary Significance

With the deepening development of the globalization of the world economy,the importance of the function of the world currency has become increasingly prominent.The debate and struggle around the world currency have become increasingly fierce.What are the essence and formation conditions of world currency? Why is the US dollar declining? How to steadily promote the internationalization of RMB? etc.Correctly analyzing and solving these complex problems requires the guidance of scientific theory.The theory of world currency is an important component of Marx’s political economy.It is also a scientific guide to correctly understand and solve the laws of the occurrence and development of world currency and practical problems.Marx’s world currency theory originated from Marx’s reflection and response to major theoretical and practical issues at that time.Classical currency theory is the ideological source of Marx’s world currency theory.The establishment of capitalist production methods,the development of world markets,and the transformation of international political patterns are the realistic backgrounds for the emergence of Marx’s world currency theory.Marx’s theory of world currency originated from his research on political and economic issues during the period of humanism.After the gestation and development of world currency research from the perspective of historical materialism,it formed in the mature stage of Marx’s political and economic research after the trough of the labor movement.Marx’s theory of world currency mainly includes the theory of the connotation and function of world currency,the theory of the endogenous relationship between world currency and sovereign currency,and the internal logic of the generation conditions and form evolution of world currency.From Marx’s point of view,the connotation of world currency is to fix commodities that serve as general equivalents across national borders in the commodity economy.The formation of world currency has its historical premise,which needs to be driven jointly by the internationalization of production relations,the world market,and the dependence of people on things.The greedy nature of capital in pursuit of surplus value is the internal driving force for the formation of world currency,and the opening up of the world market is the direct driving force for the formation of world currency.Through the study of Marx’s world currency theory,it can be inferred that a certain sovereign currency needs specific economic and political conditions to become a world currency.Economic conditions mainly include initial capital accumulation and sufficient gold reserves;Political conditions include the formulation of national policies and systems,a sound credit system,and the expansion of international political influence.The history of sterling and the dollar becoming world currencies has confirmed the scientific nature of Marx’s world currency theory.In today’s world,the hegemony of the US dollar seriously endangers international economic security.Its political sovereignty over the currency function has deviated from Marx’s world currency theory.The internationalization of the RMB still faces obstacles and problems such as complex and severe economic situations at home and abroad,currency inertia,etc.However,with the gradual improvement of China’s economic strength and international influence,the process of RMB internationalization will continue to accelerate.However,it is necessary to properly handle the relationship between safeguarding national interests and providing inclusive international public goods,domestic and international circulation,real economy and virtual economy.Using Marx’s world currency theory to guide the highquality development of RMB internationalization.