A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system
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Data de Publicação: | 2021 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Intellector (Online) |
Texto Completo: | https://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-14 |
Resumo: | After the 2008 crisis, China started a process of internationalization of its currency, the Renminbi (RMB), stimulated domestic reforms in the financial sector, boosting exports and investments. Exchange swap agreements were included, a specific international payments system was created, and the RMB was included in the IMF's currency basket. However, since the 2010s, the trajectory of the RMB's internationalization has presented difficulties for its advancement. In this work, our objective is to analyze these difficulties. We argue that external and internal factors contribute to understanding the difficulties of currency internationalization: externally, the role played by the dollar, which remains central with networks of externalities reproducing its strength as an international currency; domestically, China's option to maintain control of its capital account is difficult for the external insertion of the RMB. We conclude that China has sacrificed the internationalization of the RMB in order to maintain control over its financial system. |
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A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial systemChina, RMB, Currency Internationalization, Financial System, Capital Account.After the 2008 crisis, China started a process of internationalization of its currency, the Renminbi (RMB), stimulated domestic reforms in the financial sector, boosting exports and investments. Exchange swap agreements were included, a specific international payments system was created, and the RMB was included in the IMF's currency basket. However, since the 2010s, the trajectory of the RMB's internationalization has presented difficulties for its advancement. In this work, our objective is to analyze these difficulties. We argue that external and internal factors contribute to understanding the difficulties of currency internationalization: externally, the role played by the dollar, which remains central with networks of externalities reproducing its strength as an international currency; domestically, China's option to maintain control of its capital account is difficult for the external insertion of the RMB. We conclude that China has sacrificed the internationalization of the RMB in order to maintain control over its financial system.Centro de Estudos em Geopolítica e Relações Internacionais2021-12-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-1410.5281/zenodo.6491336Revista Intelector; v. 18 n. 36 (2021): Revista Intellector: v. 18(2), nº 36, 20211807-12601808-0529reponame:Intellector (Online)instname:Centro de Estudos em Geopolítica e Relações Internacionais (CENEGRI)instacron:CENEGRIporhttps://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-14/19Copyright (c) 2021 William Daldegam, Ana Tereza L. M. Sousa (Autor)https://creativecommons.org/licenses/by-nc-nd/4.0info:eu-repo/semantics/openAccess Daldegam, WilliamSousa, Ana Tereza L. M. 2023-12-26T05:18:19Zoai:ojs3.revistaintellector.cenegri.org.br:article/27Revistahttp://www.revistaintellector.cenegri.org.br/index.php/intellectorONGhttp://www.revistaintellector.cenegri.org.br/index.php/intellector/oaieditor@revistaintellector.cenegri.org.br || atendimento@cenegri.org.br1807-12601807-1260opendoar:2023-12-26T05:18:19Intellector (Online) - Centro de Estudos em Geopolítica e Relações Internacionais (CENEGRI)false |
dc.title.none.fl_str_mv |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
title |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
spellingShingle |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system Daldegam, William China, RMB, Currency Internationalization, Financial System, Capital Account. |
title_short |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
title_full |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
title_fullStr |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
title_full_unstemmed |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
title_sort |
A internacionalização do RMB diante do controle sobre o sistema financeiro chinês: The internationalization of the RMB in view of the control over the Chinese financial system |
author |
Daldegam, William |
author_facet |
Daldegam, William Sousa, Ana Tereza L. M. |
author_role |
author |
author2 |
Sousa, Ana Tereza L. M. |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Daldegam, William Sousa, Ana Tereza L. M. |
dc.subject.por.fl_str_mv |
China, RMB, Currency Internationalization, Financial System, Capital Account. |
topic |
China, RMB, Currency Internationalization, Financial System, Capital Account. |
description |
After the 2008 crisis, China started a process of internationalization of its currency, the Renminbi (RMB), stimulated domestic reforms in the financial sector, boosting exports and investments. Exchange swap agreements were included, a specific international payments system was created, and the RMB was included in the IMF's currency basket. However, since the 2010s, the trajectory of the RMB's internationalization has presented difficulties for its advancement. In this work, our objective is to analyze these difficulties. We argue that external and internal factors contribute to understanding the difficulties of currency internationalization: externally, the role played by the dollar, which remains central with networks of externalities reproducing its strength as an international currency; domestically, China's option to maintain control of its capital account is difficult for the external insertion of the RMB. We conclude that China has sacrificed the internationalization of the RMB in order to maintain control over its financial system. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-12-30 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-14 10.5281/zenodo.6491336 |
url |
https://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-14 |
identifier_str_mv |
10.5281/zenodo.6491336 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://revistaintellector.cenegri.org.br/index.php/intellector/article/view/02-14/19 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2021 William Daldegam, Ana Tereza L. M. Sousa (Autor) https://creativecommons.org/licenses/by-nc-nd/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2021 William Daldegam, Ana Tereza L. M. Sousa (Autor) https://creativecommons.org/licenses/by-nc-nd/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Centro de Estudos em Geopolítica e Relações Internacionais |
publisher.none.fl_str_mv |
Centro de Estudos em Geopolítica e Relações Internacionais |
dc.source.none.fl_str_mv |
Revista Intelector; v. 18 n. 36 (2021): Revista Intellector: v. 18(2), nº 36, 2021 1807-1260 1808-0529 reponame:Intellector (Online) instname:Centro de Estudos em Geopolítica e Relações Internacionais (CENEGRI) instacron:CENEGRI |
instname_str |
Centro de Estudos em Geopolítica e Relações Internacionais (CENEGRI) |
instacron_str |
CENEGRI |
institution |
CENEGRI |
reponame_str |
Intellector (Online) |
collection |
Intellector (Online) |
repository.name.fl_str_mv |
Intellector (Online) - Centro de Estudos em Geopolítica e Relações Internacionais (CENEGRI) |
repository.mail.fl_str_mv |
editor@revistaintellector.cenegri.org.br || atendimento@cenegri.org.br |
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1797049582451949568 |