培育和发展人民币计价功能是人民币国际化的重中之重

Core Viewpoint - The book "New Currency Landscape" discusses the evolution of the international monetary system, the inherent contradictions of the existing system, and the progress and lessons of RMB internationalization, proposing strategies to advance it [1][2]. Group 1: Historical Context and Lessons - The authors highlight the historical experiences of the dollar's rise, yen internationalization, and euro's emergence, emphasizing the importance of maintaining domestic economic stability and independent monetary policy for RMB internationalization [2][3]. - The book provides a detailed account of how the Marshall Plan and Dodge Plan saved the Bretton Woods system and the dollar's international status, which is a unique perspective in domestic discourse [1][4]. Group 2: RMB Internationalization Strategies - The book suggests that cultivating and developing RMB pricing functions is crucial for its internationalization, with practical paths including promoting RMB pricing through economic aid to African countries, addressing trade deficits with neighboring countries, and facilitating commodity transactions [3][5]. - It argues that financial openness combined with a rigid exchange rate is a dangerous combination, indicating the need for careful consideration of the relationship between RMB internationalization and capital account liberalization [6]. Group 3: Current Challenges and Future Directions - The authors express that the failure of yen internationalization was largely due to the inability to maintain exchange rate stability, a challenge that has also affected RMB internationalization since 2015 due to depreciation and depreciation expectations [3][4]. - The book discusses the systemic risks associated with the diversification of reserve assets among countries, particularly in light of geopolitical tensions, suggesting that merely diversifying within traditional reserve currencies may not be sufficient [6][7].