THE DYNAMICS OF THE SUCCESSION OF CURRENCIES IN THE 21ST CENTURY – A CASE OF CHINESE FINANCIAL LEADERSHIP?

Q4 Social Sciences

Austral: Brazilian Journal of Strategy and International Relations Pub Date : 2021-12-08 DOI:10.22456/2238-6912.113284

Gustavo Hermínio Salati Marcondes de Moraes, Leonardo Giacomin

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引用次数: 0

Abstract

The global monetary system since the Industrial Revolution in two periods had two periods. First, a period with Britain as the great economic and political power and the Pound Sterling as the most important international currency and second, the United States as the leading economy and a dollar-based international scenario. The relation between goods, money, and foreign exchange markets is important to understand patterns in terms of exchange rate and currency internationalization. Therefore, the Crowther balance of payments cycles may be important to identify these patterns and to serve as a standard of reference to investigate shifts in exchange rate, and their consequences on balance of payments movements. Since 1978, China has emerged as a strong candidate to assume protagonist in the global monetary system, displaying high and stable economic growth. This paper aims to investigate the necessary conditions for China to internationalize the Renminbi, local currency, and to infer its status in that progress.

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21世纪货币更替的动态——中国金融领导力的一个例子?

全球货币体系自工业革命以来经历了两个时期两个时期。第一阶段是英国成为经济和政治强国，英镑成为最重要的国际货币;第二阶段是美国成为主要经济体，以美元为基础的国际格局。商品、货币和外汇市场之间的关系对于理解汇率和货币国际化的模式非常重要。因此，克劳瑟国际收支周期对于确定这些模式和作为调查汇率变动及其对国际收支变动的影响的参考标准可能是重要的。自1978年以来，中国表现出高速稳定的经济增长，成为全球货币体系中扮演主角的有力候选人。本文旨在探讨中国人民币国际化的必要条件，并推断其在这一进程中的地位。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Austral: Brazilian Journal of Strategy and International Relations Social Sciences-Political Science and International Relations

CiteScore

0.20

自引率

0.00%

发文量

审稿时长

24 weeks

期刊介绍： AUSTRAL: Brazilian Journal of Strategy and International Relations was the first Brazilian journal in the area of International Relations to be fully published in English (2012). It is an essentially academic vehicle, linked to the Brazilian Centre of Strategy & International Relations (NERINT) and the Doctoral Program in International Strategic Studies (PPGEEI) of the Faculty of Economics (FCE) of the Universidade Federal do Rio Grande do Sul (UFRGS). Its pluralist focus aims to contribute to the debate on the international political and economic order from the perspective of the developing world. The journal publishes original articles in the area of Strategy and International Relations, with special interest in issues related to developing countries and South-South Cooperation – its security problems; the political, economic and diplomatic developments of emerging countries; and their relations with the traditional powers. AUSTRAL is published semi-annually in English and Portuguese. The journal’s target audience consists of researchers, experts, diplomats, military personnel and graduate students of International Relations. The content of the journal consists of in-depth analytical articles written by experts (Professors and Doctors), focusing on each of the great continents of the South: Asia, Latin America and Africa. Thus, the debate and diffusion of knowledge produced in these regions is stimulated. All contributions submitted to AUSTRAL are subject to rigorous scientific evaluation.