Download or read book Reform of the International Monetary System and Internationalization of the Renminbi written by Ruogu Li and published by World Scientific. This book was released on 2015-11-09 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: ' 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. Contents:Evolution of the International Monetary System:The Gold StandardThe Gold-exchange StandardThe Bretton Woods SystemPatterns in the Evolution of the International Monetary SystemThe Current International Monetary System:Characteristics of the Current International Monetary SystemAppraisal of the Current International Monetary SystemSustainability of the Current International Monetary System — An AnalysisGlobal Financial Crisis and the International Monetary System:Causes, Development and Impact of the Global Financial CrisisGlobal Financial Crisis'' Impact on the International Monetary SystemAdjust Global Economic Imbalance and Reform the International Monetary SystemReform of the Current International Monetary System:Proposals for Reforming the International Monetary SystemRealistic Choice for Reforming the International Monetary SystemChina and Current International Monetary System ReformRegional Currency Cooperation:Regional Currency Cooperation TheoryEuropean Currency CooperationEast Asian Currency CooperationChina and East Asian Currency CooperationInternationalization of the Renminbi:Currency InternationalizationInternationalization of Major CurrenciesCurrent State of the Internationalization of the RenminbiCost-Benefit Analysis of the Internationalization of the RenminbiPathway Towards Internationalizing the Renminbi Readership: Researchers, economists, finance professionals, analysts, individual investors, monetary and banking authorities and those who are interested in the reform of the international monetary reform, the roles China and its currency, the RMB, are going to play in the process. Key Features:This book is written by one of the foremost financial practitioners in ChinaThis book provides a unique Chinese perspective on what role it should play in the international monetary systemThis book will be a welcoming antidote to the Western-scholars-dominated narrative on China''s economic and financial developmentKeywords:IMF;World Bank;Financial Crisis;International Monetary System;RMB;International Monetary System Reform;China;US;Dollar;Renminbi;Yuan;Currency;Exchange Rate'