In the hot list, the renminbi surpassed the yen and became the fourth largest international currency in the world, and the renminbi has joined the SDR basket monetary system at the beginning to now become the world's fourth largest payment currency, and the road to internationalization is getting wider and wider.
At first, under the hegemony of the US dollar, we were still worried about the pace of internationalization of the renminbi, but now the renminbi has surpassed the yen to become the fourth largest currency in the world, which is not only a huge victory for the Chinese economy, but also a shocking change in the global monetary system.
The first path is the pricing power of the market and the market.
* It is a hard currency with a stable value for thousands of years, and it is also the last support for the current paper money credit system weakening, as well as the last support for monetary credit after the flood of the US dollar, and the global economic recession in recent years has also allowed global central banks to begin to sell US bonds and continue to increase their holdings**, this year's gold price can break through the historical high of 2075, and then hit a new high, in addition to the short-term geopolitical conflict hedging demand, there is also the support from the global central bank to increase the physical **.
In the process of promoting the internationalization of the RMB, China first built a first-class exchange in Shanghai, and began to obtain the pricing power of the international gold price, so that the physical ** is bound to the RMB, and the credit value of the RMB in the global market is enhanced, and the US dollar can become the world's currency, but also because of the Bretton Woods system after World War II, the establishment of the US dollar system, so that the US dollar is equivalent to the **, so that the US dollar paper money spreads to the global market, and all countries transport the physical goods to the underground vault in New York, USA, to facilitate the global **.
After the completion of the RMB and the RMB, China began to promote the RMB settlement system, established the first exchange in Shanghai, the oil RMB settlement system came, directly faced the US dollar oil system, and established the oil RMB settlement system and currency swap agreements with the countries of the Eurasian continent, especially Russia and the Middle East.
In fact, in terms of the international financial settlement system, the global credit value of the RMB is slowly established, and the US dollar settlement system is gradually eaten away, and the world is promoted from a single currency system to a multipolar monetary system, so that the hegemony of the US dollar is gradually weakened, and the global financial settlement system is more secure and fair, rather than being arbitrarily sanctioned and sheared by the United States.
The second path of RMB internationalization is actually the materialization of the currency through the manufacturing industry
Through the ancient silk and maritime Silk Road of the Belt and Road, China has built a global RMB settlement cargo system.
This process is also accompanied by the rise of China's new energy manufacturing industry, and the stability of the US dollar oil system is also based on the first system of the oil industry.
China's photovoltaic and wind power industry system in the central and western regions is actually a global new energy center that radiates the Eurasian continent, and is also a domestic new energy base, which can solve the development problems of the western region internally, and at the same time provide green power for the east and promote the development of low-carbon industries.
Externally, through the new energy industry system in the central and western regions, and other countries in the Eurasian continent to form a new energy industry chain system, mutual benefit at the same time, the internationalization of the RMB is also with the global popularization of the new energy manufacturing industry, and gradually improve, through the real manufacturing industry system reform, so that the RMB global settlement system is embedded in it, and finally compete with the US dollar settlement system.
Under the dual-cycle economic system, from the Belt and Road Initiative to the Asian Infrastructure Investment Bank, and then to various first-class agreements, we have actually been actively promoting the international use of RMB.
At the same time, with the integration of the commodity financial pricing system and the physical settlement system, the global market's confidence in the RMB is also increasing, which lays a solid foundation for the internationalization of the RMB.
In general, the internationalization of the renminbi is actually to promote the renminbi to become the first settlement currency through multiple channels such as investment, investment and financial markets, and by expanding exchanges with countries around the world
In addition, through overseas investment, the renminbi will be promoted as an investment currencyBy opening up financial markets, the convertibility and attractiveness of the renminbi will be enhanced. These measures not only strengthened the international status of the renminbi, but also paved the way for the globalization of China's economy.
So, what impact will the internationalization of the renminbi have on the hegemony of the dollar?
With the deepening of the internationalization of the RMB, the status of the US dollar may be challenged to a certain extent, and the global monetary system may also undergo profound changes as a result. Of course, this is a complex and lengthy process, and finally, we can look at the possible changes in the world monetary system in the future.
With the rise of emerging market and developing economies, the global monetary system is likely to diversify. The internationalization of the renminbi will inject new vitality into this process and promote a fairer and more reasonable global monetary system. In the process, the cooperation and game between countries will become more complex and colorful.
The renminbi surpassed the yen to become the world's fourth-largest international currency, a milestone achievement. It not only demonstrates the strong strength and vitality of China's economy, but also brings new possibilities and opportunities for the future development of the global monetary system. Let's look forward to a more equitable, pluralistic and stable global monetary system
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