The vigorous development of China's economy has made the international market more willing to accept the RMB, and the RMB has also shown a rapid growth trend, and the appreciation of the RMB has ushered in new opportunities for the currency market, which has also made a large number of consumers choose to invest in RMB products, and more and more foreign exchange has flowed to China.
According to research, the renminbi will continue this trend in the next few years, which is also due to the fact that China** has managed the renminbi properly and allowed its value to grow steadily.
In the world** system without the US dollar, many currencies are growing rapidly, and the most obvious of them is the renminbi.
As the world's fifth largest currency, the renminbi has a very important proportion of the global market, and its growth rate is also the first, and we can be full of confidence in the future of the renminbi.
In this context, the US dollar, the hegemon of the currency market, will face the biggest challenge, and more countries in the existing global market have chosen to settle in their own currencies for non-US dollar settlement.
But we should not take it lightly, the US dollar settlement system is still very solid, and we can see that many countries have begun to accept the yuan in the process.
Through the research of Russian scholars, experts have found that when the world no longer uses the dollar, other currencies will naturally be accepted, which also shows that the dollar is not an indispensable currency in the currency market.
In Southeast Asia, the yen had a long period of glory, but its over-reliance on exports and material processing led to a period of economic collapse, and then China's productivity caught up until it now has a strength comparable to that of the European Union, and the future of the renminbi is promising.
Under the long-term operation, the cooperation between China and ASEAN has made the RMB the primary trading currency, and the strength of the RMB in the international market can also fully assume this important responsibility.
It can be seen that today's RMB has the ability to settle internationally.
Under this long-term cooperation, the renminbi will eventually be integrated into the entire ASEAN economy, and a large amount of resources and production will be optimized, which will give the renminbi a basic stable value and a certain counterbalance to the euro and the dollar.
The completion of the first closed loop of the renminbi in East Asia will form a new renminbi settlement system, which is the most important step in the internationalization of the renminbi, the current renminbi has a better prospect than the yen and the pound, this momentum close to the euro and the dollar is bound to make the United States anxious.
In this context, the United States has suffered a serious crisis in the credibility and circulation of the US dollar because of its policies, and the use of RMB in the international market has become higher and higher.
There are not only factors external to the United States, but also the dominance of China's large number of export products, which is best illustrated by the fact that the RMB settlement between China and Russia exceeds 5% of the US dollar.
The U.S. strategy makes it possible for the dollar to lose the Bretton Woods body, but the U.S. dominance in the world system still allows the U.S. to have the market for the first currency. At the same time, the internationalization of the renminbi is quietly underway.
It is foreseeable that after the internationalization of the renminbi, a large amount of foreign exchange will flow into the domestic market, and the liquidity of the renminbi will increase by a large margin.
China needs more enterprises and individuals to participate in the process of foreign exchange circulation, and only in this way can the RMB be more closely integrated with the international market.
The circulation of RMB in the Asian economy will also allow more foreign capital to enter various regions to drive development, and its own population advantage and huge market will allow these funds to be reasonably settled. China's position in the world will only become more important, becoming the hub core of the entire Asian economy.
Although China's development and growth in power currently dominate the Asian region, these advantages only exist in the region, and the financial sector will remain in a downturn in the future compared to the United States and Europe.
But there is no doubt that the strengthening of China's overall strength will only lead to the economic recovery of the entire East Asian region, and China is leading the entire East Asian economy to better development.
The attitude of the international currency market towards the US dollar is changing, a multipolar world is about to emerge, and the US dollar will be reduced.
This is a very long thing, and it is foreseeable that in the future, there will be a diversification of currencies in the international monetary system, among which the RMB will also have more opportunities to rise.
Now the blockchain and digital currency promoted in China is an attempt to internationalize the RMB, and the digital currency can make the circulation of the RMB more perfect, make the exchange cost of the currency lower, and wait until the full implementation of its technical advantages will also form a new advantage.
Not only the RMB, but also the euro is looking for a more independent and free settlement method in the process, and the euro capital is rising in the foreign exchange market against the US dollar.
The popularity of the renminbi in the international market is not only internal factors but also the advantages of external policies, for the dollar the renminbi has also become a very competitive opponent, without the political level of the renminbi will be accepted by more countries, I believe that the development of the renminbi will enter the next new stage.