The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket

Si-Yu Wu; Wen-Bin Sun

doi:doi:10.11648/j.jwer.20160505.15

| Peer-Reviewed

The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket

Si-Yu Wu, Wen-Bin Sun

Published in Journal of World Economic Research (Volume 5, Issue 5)

Received: 4 November 2016 Published: 5 November 2016

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30^th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1^st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.

Published in	Journal of World Economic Research (Volume 5, Issue 5)
DOI	10.11648/j.jwer.20160505.15
Page(s)	77-82
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

RMB Internationalization, SDR, Reform of International Monetary System

References

[1]	L. S. Xiao, The Influence of RMB Inclusion SDR Basket and Chinese Strategy, Economic Review, 2016 (2).
[2]	Robert Triffi, Gold And the Dollar Crisis: the Future of Convertibility, Yale University, 1961.
[3]	S. H. Shi , X. Y. Dong ,The Background and Expectation of RMB Into the SDR, Northern Finance Journal. 01,2016.
[4]	Song Ke, Li Haoze. RMB, SDR and International Currency System Reform: A Total Literature, International Finance. 07,2015.
[5]	M. B. Huang, A. Z. Xiong, The Special Drawing Right ang International Monetary Reform, Studies of International Finance, 2009 (8), pp47-53.
[6]	L. G. Chen, X.F. Yang and X.C. Zhao, The Introduction of World Economy, Capital University of Economics. 2006, pp92-98.
[7]	M. Zhang, International Currency System Reform: Background, Reason, Measure and Chinese join. International Economic Review, 2010(1).
[8]	Y. L. Chen, RMB Being Qualified for SDR Would Push IMS Reform, International Finance, 2015(7), pp14-16.
[9]	C. W. Zhang, Dollar Standard, Dollar Circulation and Dollar Trap. International Finance Research, 2008 (6), pp 4-13.
[10]	G.H.Wu, American Financial Crisis and International Currency System, Jiangxi Social Science, 05,2009.
[11]	Y. Tao, International Currency System Reform and RMB Internationalization, The Journal of World Economy, 2016 (2).
[12]	X. H. Shen, The Interest Rate System Choice in Developing Countries, Beijing: China Financial Publishing House, 2008.
[13]	O. Jeanne, The Dollar and its Discontents, Journal of International Money & Finance.Vol.31, No.8.2012, pp.1976-1989.
[14]	J.J. Li, M. Z. Jiang, The inclusion of RMB to SDR and International Monetary System Trend, Contemporary International Relations, 2016(6).
[15]	Z.H. E, RMB in to SDR Forcing Chinese Financial Market Open accelerately, Modern Bankers, 12,2015.
[16]	MF’s Executive Board Completes Review of SDR Basket，Includes Chinese Renminbi”, IMF Press Release, http://www.Imf.org/external//np/sec/pr/2015/pr15540.htm.
[17]	Khalifa Hassanain, Special Drawing Right and Currency Risk Management, International Journal of Economics and Financial Issues2015, 5(3)780-785.
[18]	Z. H. E, The Inclusion to SDR Enhances Influence,Banks Usher Development Opportunity. http://finance.takungpao.com/financial/. 05,2016.
[19]	R. R. Zhao, Our Motivation and Path to Push RMB into SDR under the Background of RMB Internationalization, Global Finance, 2013(3) pp49-57.
[20]	H. Sun, The Experts Called the More Space of International Progress in the Judge of RMB Joining to SDR, Securities Daily, 11,2015.
[21]	R. X. Yi, J. C. Zhang, The Influence and Impulse of RMB Joint to SDR: Based on General Financial Theory Analysis., Jianghai Academic Journal, 02,2016.
[22]	Y. Yang, M. Liu, The Analysis of Influence on Chinese Foreign Trade after RMB Joined SDR, Manager Journal, 01,2016.
[23]	M. Y. Zhao, The Analysis of Advantages and Disadvantages for Foreign Trade Enterprise After Inclusion to SDR, Times Finance.NO.7,2016, pp16-17.
[24]	S. B. Chen, The Chinese Economic Influence and Strategy of Joining SDR, Financial Industry，01,2016.pp46-49.
[25]	Y.Y. Wang, The impact on trade - oriented enterprises of RMB qualified for the SDR basket, Modern Economic Information. 22(2015)110.
[26]	H. X. Dong, The Impact Analysis of the Realistic for RMB joint SDR, Market Modernization Journal, 2016 (06) pp 141.

Cite This Article

Plain Text BibTeX RIS

APA Style

Si-Yu Wu, Wen-Bin Sun. (2016). The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. Journal of World Economic Research, 5(5), 77-82. https://doi.org/10.11648/j.jwer.20160505.15

Copy | Download

ACS Style

Si-Yu Wu; Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J. World Econ. Res. 2016, 5(5), 77-82. doi: 10.11648/j.jwer.20160505.15

Copy | Download

AMA Style

Si-Yu Wu, Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J World Econ Res. 2016;5(5):77-82. doi: 10.11648/j.jwer.20160505.15

Copy | Download

@article{10.11648/j.jwer.20160505.15,
  author = {Si-Yu Wu and Wen-Bin Sun},
  title = {The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket},
  journal = {Journal of World Economic Research},
  volume = {5},
  number = {5},
  pages = {77-82},
  doi = {10.11648/j.jwer.20160505.15},
  url = {https://doi.org/10.11648/j.jwer.20160505.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20160505.15},
  abstract = {With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket
AU  - Si-Yu Wu
AU  - Wen-Bin Sun
Y1  - 2016/11/05
PY  - 2016
N1  - https://doi.org/10.11648/j.jwer.20160505.15
DO  - 10.11648/j.jwer.20160505.15
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 77
EP  - 82
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20160505.15
AB  - With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.
VL  - 5
IS  - 5
ER  -

Copy | Download

Author Information

Si-Yu Wu

School of Economics and Management, Southwest Jiaotong University, Chengdu, China
Wen-Bin Sun

School of Economics and Management, Southwest Jiaotong University, Chengdu, China

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Si-Yu Wu, Wen-Bin Sun. (2016). The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. Journal of World Economic Research, 5(5), 77-82. https://doi.org/10.11648/j.jwer.20160505.15

Copy | Download

ACS Style

Si-Yu Wu; Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J. World Econ. Res. 2016, 5(5), 77-82. doi: 10.11648/j.jwer.20160505.15

Copy | Download

AMA Style

Si-Yu Wu, Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J World Econ Res. 2016;5(5):77-82. doi: 10.11648/j.jwer.20160505.15

Copy | Download

@article{10.11648/j.jwer.20160505.15,
  author = {Si-Yu Wu and Wen-Bin Sun},
  title = {The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket},
  journal = {Journal of World Economic Research},
  volume = {5},
  number = {5},
  pages = {77-82},
  doi = {10.11648/j.jwer.20160505.15},
  url = {https://doi.org/10.11648/j.jwer.20160505.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20160505.15},
  abstract = {With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket
AU  - Si-Yu Wu
AU  - Wen-Bin Sun
Y1  - 2016/11/05
PY  - 2016
N1  - https://doi.org/10.11648/j.jwer.20160505.15
DO  - 10.11648/j.jwer.20160505.15
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 77
EP  - 82
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20160505.15
AB  - With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.
VL  - 5
IS  - 5
ER  -

Copy | Download