PDF《East and South East Asian》

26 2. Perspectives on the internationalisation of the RMB

27 2.1 Urgency of the RMB internationalisation

27 2.2 Common understanding of the RMB internationali- sation

29 2.3 The interaction between financial integration in East Asia and RMB internationalisation

32 3. Ideas on the financial integration in East and South East Asia

34 3.1 Analysis of the economic interests behind the fi- nancial and monetary integration in East Asia

34 3.2 Review of visions for the financial integration in East and South East Asia

40 6 3.2.1 Ideas on building a regional financial crisis management system

40 3.2.2 Thoughts on establishing a regional currency settlement system in East Asia

41 3.2.3 The idea of creating an area of fixed ex- change rates in East Asia

43 3.3 Practical implementation of financial integration in East Asia and its obstacles

46 3.3.1 The course of the practice of financial integra- tion in East Asia

46 3.3.2 Obstacles and problems of financial integra- tion in East Asia

52 4. Research on the RMB as a settlement currency

53 4.1 Economic analyses of currency internationalisa- tion

53 4.1.1 Internationalisation based on monetary func- tions

53 4.1.2 Internationalisation based on market demand

55 4.2 A possible breakthrough in the internationalisa- tion of the RMB

55 4.2.1 Major systemic restraints of RMB internation- alisation

55 4.2.2 Actual path towards RMB internationalisation

56 4.2.3 Internationalisation in order to establish the RMB as a settlement currency

58 4.3. Analysis of the feasibility of the establishment of the RMB as a settlement currency

58 4.3.1 Factors promoting the RMB as an interna- tional settlement currency

58 4.3.2 The current basis for the establishment

59 4.3.3 The macroeconomic risks of the establishing the RMB as an international settlement currency

60 7 4.4 Conclusions

61 5. Policy recommendations

62 5.1. On setting up the RMB as an international cur- rency

62 5.2 On the interrelation between RMB internationali- sation and financial integration in East and South East Asia

64 5.2.1 RMB internationalisation and escaping the Dollar trap in East and South East Asia

64 5.2.2 RMB internationalisation and a direct currency exchange network in East and South East Asia

66 5.2.3 RMB internationalisation and setting up a re- gional financial market in East and South East Asia

67 5.2.4 RMB internationalisation and exchange rate regulation mechanisms in East and South East Asia

68 5.3 How to strengthen the role of the RMB as an in- ternational settlement currency

69 5.3.1 Struggling to overcome obstacles for the es- tablishment as a settlement currency

69 5.3.2 Facing the possible negative consequences of establishing the RMB as an international settlement currency

70 5.3.3 Promoting relevant measures

71 8

9 Content Executive Summary

11 1. 相关研究文献综述

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