Overview

This book argues that only by reforming the international monetary system can we prevent financial crises in the future and the internationalization of the Renminbi, China's national currency, will be an important step in the process.Just as the old saying goes, 'An old building needs to be demolished before a new one can be erected in its place,' there will be no construction without destruction. The commencement of the dismantling of the old monetary system is also the beginning of the construction of the new one. Contrary to Western rhetoric, which portrays China as part of the cause of the recent financial crisis, the author contends that China is actually a victim of the current unjust international economic and monetary system. To address the imbalance and break the dollar-dominated international monetary system, the author calls for the internationalization of the Renminbi and diversification of the international monetary system.Written by one of the foremost financial practitioners in China, this book is thought-provoking and provides a unique Chinese perspective on how the international monetary system should be reformed, what the future system should look like and the role China should play in the process. It is a required reading for anyone interested in understanding China's own vision in its rise in the global political, economic and financial systems.

Full Product Details

Author:   Ruogu Li (The Export-import Bank Of China, China) ,  Huirong Wang (China Financial Publishing House, China)
Publisher:   World Scientific Publishing Co Pte Ltd
Imprint:   World Scientific Publishing Co Pte Ltd
Dimensions:   Width: 15.70cm , Height: 2.30cm , Length: 23.10cm
Weight:   0.590kg
ISBN:  

9789814699044

ISBN 10:   9814699047
Pages:   316
Publication Date:   24 December 2015
Audience:   College/higher education ,  Professional and scholarly ,  Tertiary & Higher Education ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Evolution of the International Monetary System: The Gold Standard; The Gold-exchange Standard; The Bretton Woods System; Patterns in the Evolution of the International Monetary System; The Current International Monetary System: Characteristics of the Current International Monetary System; Appraisal of the Current International Monetary System; Sustainability of the Current International Monetary System - An Analysis; Global Financial Crisis and the International Monetary System: Causes, Development and Impact of the Global Financial Crisis; Global Financial Crisis' Impact on the International Monetary System; Adjust Global Economic Imbalance and Reform the International Monetary System; Reform of the Current International Monetary System: Proposals for Reforming the International Monetary System; Realistic Choice for Reforming the International Monetary System; China and Current International Monetary System Reform; Regional Currency Cooperation: Regional Currency Cooperation Theory; European Currency Cooperation; East Asian Currency Cooperation; China and East Asian Currency Cooperation; Internationalization of the Renminbi: Currency Internationalization; Internationalization of Major Currencies; Current State of the Internationalization of the Renminbi; Cost-Benefit Analysis of the Internationalization of the Renminbi; Pathway Towards Internationalizing the Renminbi;

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