ABSTRACT
RMB internationalization is at an early stage of development. The development of RMB internationalization will not be a smooth process, as international financial and economic developments can frequently inflict unaccommodating conditions upon China. A gradualist approach will be recommended. It is important for China to maintain domestic financial stability as its primary objective. Also, RMB internationalization should not be seen as only benefitting China. The goal should be achieving a better international financial order for the benefit of attaining international stability and promoting international development. A comprehensive engagement with all international stakeholders, including sovereign states of the developed and developing world, multinational institutions, and international financial institutions, would move RMB internationalization in the right direction.
