The Story of De- dollarization and Internationalization of the Chinese Renminbi

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-06-05 DOI:10.1177/09726527241248888

Nilanjan Banik, K. Das

引用次数: 0

Abstract

In recent times, numerous commentaries have written about de- dollarization. We analyse the factors which are contributing to de- dollarization. On the economic front, there is reduced fiscal and financial capacity of the US economy that can strain economic trust in the dollar. The internationalization of the Chinese currency is another factor. Additionally, a lower forecast for the world economic growth outlook, a higher debt financing in the United States, and a war in Europe are also leading to central banks around the world buying more gold and reducing investment in the US treasury bonds. While these factors may lead to reduced demand for dollars and increase the use of alternate international currencies, including digital currencies, we argue that dislodging the dollar as a global anchor currency is at best going to be restricted by economic and geopolitical reasons. JEL Codes: E42, F33, F34

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人民币去美元化和国际化的故事

近来，许多评论都谈到了去美元化问题。我们分析了导致去美元化的因素。在经济方面，美国经济的财政和金融能力下降，这可能会影响经济对美元的信任。中国货币国际化是另一个因素。此外，世界经济增长前景预测下调、美国债务融资增加以及欧洲战争也导致全球央行购买更多黄金，减少对美国国债的投资。虽然这些因素可能会导致对美元的需求减少，并增加包括数字货币在内的其他国际货币的使用，但我们认为，美元作为全球锚定货币的地位至多会受到经济和地缘政治原因的限制。JEL Codes：E42, F33, F34

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.