Thursday, October 23, 2014
ANBOUND:RMB Internationalization "Haste makes Waste"
ANBOUND
The process of RMB internationalization has been overly expected. ANBOUND think tank scholars state that we should not become dizzy with the success we achieved during the past five years in RMB cross-border trade settlement and payment. Nor should we set an unrealistic goal for RMB internationalization. RMB internationalization requires the forming of a global market for system operation based on internationalized financial law, policies and institutions, as well as the support from adequate participating organizations and abundant RMB financial products. Therefore, China still needs to be well-prepared and keeps a forward-looking understanding towards the rules of diversified international monetary system in the future.