chapter  7
5 Pages

Conclusions and suggestions

In this section, we review international experiences, analyze historical and development models of the USD, JPY, and former Deutsche Mark, and summarize common features of these three currencies in their process of internationalization that we believe will be helpful for the internationalization of the RMB. Based on foreign experiences and China’s specific national conditions, we believe that in the short term we need to focus on promoting the RMB so that it is accepted by neighboring countries as the pricing and settlement currency in international trading. The following tasks need to be undertaken to accomplish this objective.