RMB into the basket SDR open a new journey in the global reserve currency-pretty rhythm

The RMB "into the basket" SDR: open a new journey – a global reserve currency Beijing News Agency Xinhua: Washington, September 29 yuan "into the basket" SDR: open global reserve currency News Agency reporter Zhang Yuran a new journey in October 1st, RMB will officially join the International Monetary Fund (IMF) special drawing rights (SDR) currency basket, which is created for the first time since the SDR into the currencies of emerging economies, the renminbi will open a new journey as a global reserve currency "". The United States many scholars believe that the future Chinese economic and financial system reform will promote the RMB to become a stronger currency, to play a greater role in the international financial system, but also need to make a clear explanation of China communication on macroeconomic policies, so that investors and the market accurately read Chinese message does not appear excessive reaction. The Pedersen Institute for International Economics senior researcher Nicholas lardy (Nicholas R.? Lardy) said in an interview with News Agency reporters, "into the basket" is the development of the RMB internationalization process step in the reform of the financial system China will further promote the RMB become stronger currency. Pedersen Institute for international economics, another senior researcher tameem? (Tamim Bayoumi) believes that the cause of "basket" means China begins with the main role in global financial markets appear in the center of the stage, but also provides a "anchor" for the China reform, in favor of China gradually opening up the capital market, enhance the flexibility of the exchange rate. Also to the international financial system become more democratic. It was noted that, despite the low starting point of the international use of the yuan, but in the past 5 years, the rapid rise. A professor at the Cornell University and a fellow at the Brookings Institution ace Wahl Pu Lhasa de (Eswar S.? Prasad) said that before IMF announced that the RMB "into the basket", RMB has become the de facto reserve currency, many countries in South Africa, Australia, the UK will be RMB as part of its foreign exchange reserves, or would like to see the RMB as a reserve asset. The central bank has more than 30 bilateral currency swap arrangements with Chinese yuan, is the world’s fifth largest payment currency. In this context, the RMB into the basket for China, IMF and the international financial system are good, in the long run is also good for China’s economy. Many scholars have pointed out that, with the RMB open a new journey as the global reserve currency, to the global market and investors more clearly understand the China government, especially central bank release of foreign policy message, to avoid excessive or incorrect responses become China official on the issues of concern. Radi said that the Chinese authorities should continue to disclose more information about their currency and reserve assets to the outside world, including the number and size of the changes and reasons, the specific composition of the reserve assets, etc.. Forward RMB internationalization, Lhasa Pu believes that this process is up to the market to decide, depending on the progress of Chinese economic and financial market reform, is also involved in many areas of policy transparency and the rule of law etc.. Senior research fellow at the Brookings Institution, the world bank and the state of Mongolia Chinese ex Secretary (Du Dawei)相关的主题文章: