RMB Internationalization: An In-Depth Discussion of Opportunities and Challenges

DOI

10.2991/978-94-6463-770-0_75How to use a DOI?

Keywords

RMB; Internationalization; Payment

Abstract

With the rise of China’s economy, the use of the RMB in multilateral international trade has been increasing. For instance, international students or tourists can directly use Alipay or WeChat for overseas consumption, as the system automatically converts foreign currencies into RMB for settlement. In the short term, the US dollar’s traditional dominant position is unlikely to be replaced. However, in the long run, since the collapse of the Bretton Woods system, the global monetary system has evolved into a pattern of multipolar competition. From the Japanese yen and Euro to the Canadian dollar, and now the increasingly prevalent use of the RMB, this trend will ultimately lead to the emergence of a diversified currency system based on multiple reserve currencies. As the legal tender of China, the world’s second-largest economy, the RMB plays a crucial role in major trading arenas. The accelerated internationalization of the RMB, coupled with advancements in digital technology, is further facilitating the process of global economic integration.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Wenjun Liu
PY  - 2025
DA  - 2025/06/26
TI  - RMB Internationalization: An In-Depth Discussion of Opportunities and Challenges
BT  - Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025)
PB  - Atlantis Press
SP  - 661
EP  - 672
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-770-0_75
DO  - 10.2991/978-94-6463-770-0_75
ID  - Liu2025
ER  -