The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket

Si-Yu Wu; Wen-Bin Sun

doi:doi:10.11648/j.jwer.20160505.15

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The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket

Si-Yu Wu, Wen-Bin Sun

Published in Journal of World Economic Research (Volume 5, Issue 5)

Received: 4 November 2016 Accepted: Published: 5 November 2016

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Abstract

With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30^th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1^st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.

Published in	Journal of World Economic Research (Volume 5, Issue 5)
DOI	10.11648/j.jwer.20160505.15
Page(s)	77-82
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

RMB Internationalization, SDR, Reform of International Monetary System

References

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Si-Yu Wu, Wen-Bin Sun. (2016). The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. Journal of World Economic Research, 5(5), 77-82. https://doi.org/10.11648/j.jwer.20160505.15

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ACS Style

Si-Yu Wu; Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J. World Econ. Res. 2016, 5(5), 77-82. doi: 10.11648/j.jwer.20160505.15

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AMA Style

Si-Yu Wu, Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J World Econ Res. 2016;5(5):77-82. doi: 10.11648/j.jwer.20160505.15

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@article{10.11648/j.jwer.20160505.15,
  author = {Si-Yu Wu and Wen-Bin Sun},
  title = {The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket},
  journal = {Journal of World Economic Research},
  volume = {5},
  number = {5},
  pages = {77-82},
  doi = {10.11648/j.jwer.20160505.15},
  url = {https://doi.org/10.11648/j.jwer.20160505.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20160505.15},
  abstract = {With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.},
 year = {2016}
}

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TY  - JOUR
T1  - The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket
AU  - Si-Yu Wu
AU  - Wen-Bin Sun
Y1  - 2016/11/05
PY  - 2016
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DO  - 10.11648/j.jwer.20160505.15
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
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EP  - 82
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20160505.15
AB  - With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.
VL  - 5
IS  - 5
ER  -

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Author Information

Si-Yu Wu

School of Economics and Management, Southwest Jiaotong University, Chengdu, China
Wen-Bin Sun

School of Economics and Management, Southwest Jiaotong University, Chengdu, China

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APA Style

Si-Yu Wu, Wen-Bin Sun. (2016). The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. Journal of World Economic Research, 5(5), 77-82. https://doi.org/10.11648/j.jwer.20160505.15

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ACS Style

Si-Yu Wu; Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J. World Econ. Res. 2016, 5(5), 77-82. doi: 10.11648/j.jwer.20160505.15

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AMA Style

Si-Yu Wu, Wen-Bin Sun. The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket. J World Econ Res. 2016;5(5):77-82. doi: 10.11648/j.jwer.20160505.15

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@article{10.11648/j.jwer.20160505.15,
  author = {Si-Yu Wu and Wen-Bin Sun},
  title = {The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket},
  journal = {Journal of World Economic Research},
  volume = {5},
  number = {5},
  pages = {77-82},
  doi = {10.11648/j.jwer.20160505.15},
  url = {https://doi.org/10.11648/j.jwer.20160505.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20160505.15},
  abstract = {With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - The SDR as a Payment Means: Based on the Background of RMB into the SDR Basket
AU  - Si-Yu Wu
AU  - Wen-Bin Sun
Y1  - 2016/11/05
PY  - 2016
N1  - https://doi.org/10.11648/j.jwer.20160505.15
DO  - 10.11648/j.jwer.20160505.15
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 77
EP  - 82
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20160505.15
AB  - With RMB climbing to the international stage gradually, China had been taking a series of policies in the process of promoting RMB inclusion into the SDR basket, which could devote to RMB Internationalization. On November 30th, 2015, IMF Board preclaimed to add RMB into SDR basket formally from October 1st, 2016, being the fifth currency except bound, Euro, yen and dollar, as the first emerging-market currency into SDR. This matter arouse many controversies and discussions about the influence and prospect of RMB inclusion in the SDR basket in academia. It is not only inevitable that the inclusion of RMB owed to the blossom of emerging market economics, but in line with the interest of International Monetary System Reform. This paper analyzes and collates some literature and views about the introduction of SDR, the development and reform of International Monetary System, prospect of RMB included into the SDR basket, our countermeasures and conclusion.
VL  - 5
IS  - 5
ER  -

Copy | Download