综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Opinion

Money will talk, sooner than later

By Giles Chance (China Daily) Updated: 2014-05-12 10:12

Money will talk, sooner than later

Zhang Chengliang / China Daily

Renminbi has the potential to create a seismic shift in the international monetary and financial arena

Evidence is emerging that international finance will take over from trade as the principal projector of China's global influence.

In a speech in Sydney in March, Philip Lowe, deputy governor of Australia's central bank, said: "The internationalization of the renminbi - and China's associated move toward a liberalized capital account and more flexible exchange-rate regime - has the potential to create a seismic shift in the international monetary and financial landscape."

Money will talk, sooner than later
RMB internationalization could transform global markets
Money will talk, sooner than later
In the same month, the Bank of International Settlements, based in Switzerland, released a research report showing that the renminbi has become a more important influence on other Asian currencies than any of the major global currencies.

How long will it be before China becomes a major global force in financial affairs, rivaling the United States? What will the global impact be when it happens?

In March 2009, the governor of the People's Bank of China, Zhou Xiaochuan, published a now-famous essay called Reform the international monetary system, calling for a modernization of the monetary system by basing it on a money standard which stood above national currencies. The United Nations Commission of Financial Experts into the Reform of the Global Monetary and Financial System, reporting in September 2009, supported Zhou's appeal. But Japan and the European countries (excluding Russia) followed the United States in ignoring calls for monetary reform.

China gave up the idea of changing the global monetary system, and adopted a different strategy aimed at protecting its economy and large pool of savings: developing its own currency, the renminbi, as a major global currency to rival the dollar. An internationally-recognized, widely-used renminbi would protect China's savings, and bring Chinese the great convenience and lower cost of using the renminbi everywhere outside China. It would also make China into a global financial power.

Previous Page 1 2 3 Next Page

Hot Topics

Editor's Picks
...
...
五常市| 昌邑市| 凤凰县| 乡城县| 义马市| 沙湾县| 禄丰县| 娱乐| 红原县| 大埔县| 民县| 仁布县| 龙口市| 晴隆县| 武川县| 红河县| 荥经县| 工布江达县| 湟源县| 巴里| 阿克苏市| 中方县| 柳江县| 舟曲县| 年辖:市辖区| 都兰县| 留坝县| 宝山区| 德庆县| 武夷山市| 新竹市| 吴江市| 宜春市| 盐津县| 姚安县| 庄河市| 祁门县| 本溪市| 滦南县| 西藏| 岐山县|