The specifics and major characteristics of yuan’s internationalization

Abstract

The crisis of 2008–2010 revealed the need of emerging economies, including China, to set up a financial stability network consisting of a number of international and regional financial institutions in addition to the existing international monetary system dominated by the dollar. These institutions are becoming a basis for yuan’s internationalization, a process connected with an increase in its use in international trade, international monetary relations, international liquidity, etc. Th e author analyzes the scope of yuan’s internationalization and suggests ways to intensify this process.