Potential Boost of RMB Internationalization in 2020s
Author
Wei, Bolong
Term
4. term
Publication year
2020
Abstract
This thesis investigates why the Chinese government may need to accelerate the internationalization of the renminbi (RMB) in the 2020s. It employs a qualitative, deductive design centered on documentary analysis, supported by basic quantitative indicators, drawing on empirical evidence from official reports, international organizations’ databases, and scholarly publications. International Political Economy provides the main analytical framework, complemented by liberal, mercantilist, and structuralist/world-systems perspectives. The study reviews RMB’s historical development and policy transitions and analyzes: international use, payment and clearing infrastructure, the Belt and Road Initiative and AIIB, inclusion in the IMF’s SDR, RMB‑denominated commodities (INE crude oil), offshore RMB markets, and the RMB’s digitalization (CBDC/DCEP). The analysis is situated in a global context marked by persistent dollar dominance, the legacy of the 2008 financial crisis, and the COVID‑19 pandemic. The aim is to assess opportunities, challenges, and potential pathways to strengthen the RMB’s global role; the excerpt does not present final findings but indicates implications such as increased Chinese influence, stabilization of the world economy, and seizing development opportunities.
Dette speciale undersøger, hvorfor den kinesiske regering kan have behov for at fremskynde internationaliseringen af renminbi (RMB) i 2020’erne. Undersøgelsen anvender en kvalitativ, deduktiv tilgang baseret på dokumentanalyse understøttet af grundlæggende kvantitative indikatorer, med empiriske kilder fra officielle rapporter, internationale organisationers databaser og akademiske publikationer. International politisk økonomi fungerer som overordnet ramme, suppleret af liberale, merkantilistiske og strukturalistiske perspektiver. Specialet gennemgår RMB’s historik og politiske skift og analyserer: international anvendelse, betalings- og clearinginfrastruktur, Bælte- og Vej-initiativet og AIIB, optagelsen i IMF’s SDR, RMB-denominerede råvarer (INE-råolie), offshore RMB-markeder samt digitaliseringen af RMB (CBDC/DCEP). Analysen placeres i en global kontekst præget af fortsat dollardominans, eftervirkningerne af finanskrisen i 2008 og COVID-19-pandemien. Målet er at vurdere muligheder, udfordringer og mulige veje til at styrke RMB’s globale rolle; uddraget indeholder ikke endelige resultater, men peger på implikationer som større kinesisk indflydelse, stabilisering af verdensøkonomien og udnyttelse af udviklingsmuligheder.
[This apstract has been generated with the help of AI directly from the project full text]