The Enlightenment of Internationalization of Mark and Yen to Internationalization of RMB

Abstract

The internationalization processes of Mark and Yen are not only related to the economic strengths of their countries, but also are closely with the integrity of their financial systems and openness and supervision degree of their capital accounts. Different internationalization paths and different external impact factors lead to differences between the results of the current internationalization. Without a comprehensive institutional guarantee, without supports from deep and broad trading and financial markets, without the backup of a strong economy, there would be impossible to implement the economic activity of the current internationalization. China should learn from the historical processes of the current internationalization of Japan and Germany, make efforts to circumvent their deficiencies and gain the positive experience.